Sharjah Economic Development Department, SEDD, has released the sixth edition of the 2016 annual report which highlights its reports throughout the year.

The report included the services, activities, initiatives and policies implemented by the department within the framework of its vision to achieve economic well-being in the emirate. It also included the objectives the department seeks to achieve within its comprehensive sustainable development process at local and federal levels.

The sixth edition is a developmental version of previous publications, in which the department is keen to provide details of the economic planning and strategic performance for the year 2016 at the level of the Department and the Emirate of Sharjah.

Commenting on the occasion, Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that the report reflects the vision and directions of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, to attain sustainable development of the emirate's economy through the promising steps taken by the department in 2016.

He added that the department was able to design and implement a number of economic initiatives and policies that helped in achieving the objectives of customers’ convenience of the major investors and businessmen. Also, it was able to communicate directly with all customers through the use of the digital and technological environment to be one of the extended arms of the department to reach the investor everywhere. In addition, SEDD was able to provide comprehensive services in a modern and sophisticated way with more than 75 electronic services and 46 smart services with the ability to connect with local and federal departments and agencies in order to facilitate procedures.

He emphasised that the UAE, along with the Emirate of Sharjah, has maintained high growth rates despite global economic challenges and changes. This made the emirate an attractive destination for both residence and work, with population growth of about 15 percent growth in three years up to the end of 2016.

He said that various sectors in Sharjah achieved distinguished growth in several fields, such as 6 percent in the manufacturing sector, 5 percent in construction, 3 percent in wholesale and retail sector, 5 percent in restaurant and hotels sector, and 4 percent in real estate and business services sector. The general production rate in Sharjah exceeded 152 billion Dirhams in 2016 with growth of 4 percent. Also, industrial production hit 17 percent of the emirate’s overall outcome, while industrial licenses increased by 2.3 percent.

Al Suwaidi emphasised that due to the wise directives of Dr. Sheikh Sultan, who called for care and attention to development and stability, Sharjah was in third place of the 10 best cities in the Middle East.

Al Suwaidi said that the department made great achievements in 2016 at the economic level which resulted in a growth rate of domestic production in 2016 by 4 percent and an increase of about 72,000 active licences managed by the department with a growth rate of 6.1 percent.

He added that the department contributed in new developments in the economic field in 2016, based on sustainability and competitiveness, simplifying procedures, as well as relying on international competitiveness indicators and standards for performance. Also, it concentrated on working on the development of national industry, improvement of commercial sectors, and establishment of economic centres throughout the emirate.

He stressed that the release of the annual report is an important event that comes in line with the emirate’s growth which requires the availability of data, statistics and analysis for investors and decision-makers. Also, the report monitors the most important economic indicators in the emirate in order to document the economic developments and visions of Sharjah.

Therefore, he added, all the other authorities and departments can easily access the annual report and develop the prospects of future developments in the emirate. The report demonstrates the economic march of the emirate by monitoring and recording all the developments and changes that are achieved annually at the level of activities and sectors.

It also reflects the efforts made to promote economic and social development in order to implement the wise directives of Ruler of Sharjah, that calls for supporting economic growth, human and sustainable development. Also, H.H.’s directives call for creating the appropriate climate for activating investments in various productive and service sectors.

The annual report confirms the great steps that Sharjah is taking in the field of diversified economy in which it has achieved a high level of development and progress under its wise leadership. Also, it has used available resources to attain the best achievements. In addition, the report provided sufficient space to track the local economy in general and the economic indicators of the Emirate of Sharjah in particular and noted the promising steps taken by the department in 2016.

The report includes ten main titles: From Licensing to Sustainability and Competitiveness, Consumer Protection and Controlling Facilities, National Entrepreneurship and Business Sector Development, Industrial Development, Glorious Past and Promising Future, Economic Clusters in Sharjah, Excellence in Technological Platforms, Strategic Planning and Performance Excellence, Local Cadres Anticipating Future, SEDD in Regional and Global Forums, and Social Responsibility, SEDD’s Main Priority.

The business sector in the Emirate of Sharjah has also developed a significant reduction in the time of completing licence procedures, in less than one working day.