The Sharjah Economic Development Department (SEDD) has released its 2023 report detailing the economic performance and achievements of the emirate. Among the most notable achievements, the department recorded an overall growth of 4.1 percent in the number of issued and renewed licenses, showcasing Sharjah’s growing appeal for business and investment. The report showcases significant developments across various sectors and highlights SEDD’s commitment to fostering balanced and sustainable economic growth.
Business licenses
SEDD’s annual report reveals remarkable growth in indicators. The total number of business licenses SEDD issued in 2023 grew by 2 percent to 7,738. Meanwhile, renewed licenses achieved a growth of 4.4 percent to 58,627. Therefore, the department achieved an overall growth of 4.1 percent in the number of issued and renewed licenses which amounted to 66,365 in 2023.
SEDD’s report also recorded an increase in issued commercial and industrial licenses, ‘Eitimad’ licenses, and e-Commerce, with rates reaching 6 percent, 15 percent, 21 percent, and 19 percent, respectively, in 2023 compared to 2022.
In the industrial sector, the total number of industrial licenses SEDD issued and renewed in Sharjah reached 3,079 licenses in 2023, a 10 percent increase compared to 2022.
The sectors that saw the largest license issuances include gas stations, money exchange shops, transporting petroleum products, selling gold and jewelry, clinics, medical centers, and schools.
Consumer protection
SEDD’s report revealed that the department processed 14,664 commercial protection complaints during 2023, a growth rate of 24 percent. This growth is evidence of the success of the Department’s efforts in educating investors and consumers about their rights and duties.
Notably, consumer protection complaints made up the largest share of the number of complaints that SEDD received in 2023. They accounted for 13,081 complaints out of the total complaints the department processed. Moreover, the number of service agent complaints reached 797, while commercial fraud complaints totaled 786 complaints.
Company contracts
SEDD certified 18,176 company contracts during 2023, a 7 percent increase compared to 2022. The department recorded a variety of contracts including service agent contracts, Memorandum of Association contracts, sales contracts, and other commercial company contracts.
Digital transformation
In 2023, SEDD won first place in the data governance evaluation among Sharjah government departments. It also completed 100 percent of the new licensing system project and developed the department’s portal with the latest and most modern identity.
Moreover, it developed comprehensive automation of internal operations and services in the Department. Notably, SEDD received 333,143 digital transactions in 2023, a 2.7 percent increase.
Read: Abu Dhabi GDP 2023: Q3 growth highlights emirate’s resilience
Human capital development
Hamad Ali Abdulla Al Mahmoud, Chairman of SEDD, explained that the total training programs in which the department’s employees participated during 2023 amounted to 347 programs. The department, in collaboration with the Human Resources Department and several specialized centers and entities, organized the programs. More than 2,504 employees in the department participated in the training programs.
Al Mahmoud added that SEDD is keen to work on building an innovative and creative human cadre. Moreover, the department aims to equip its employees with knowledge of all modern sciences to keep pace with future global developments. Hence, this will support the sustainability of the knowledge-based economy.
Quality management
SEDD’s commitment to excellence is evident through its ISO 7070PAS certification for benchmarking management systems. The department’s focus on customer satisfaction, evidenced by a 96 percent satisfaction rate, reflects its dedication to providing high-quality services.
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