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The Emirate of Sharjah witnesses a 19% growth in GDP and issues more than 40215 licenses in 2006

United Arab Emirates: Wednesday, January 24 - 2007 @ 16:05

Mr. Ali Bin Salem Al Mahmoud, General Manager of the Sharjah Economic Development Department, said: “Due to the correct policy of His Highness Sheikh Dr. Sultan Bin Mohammed Al Qassimi, Supreme Council, Ruler of the Emirate of Sharjah, the Emirate of Sharjah has provided an investment environment that is attractive to various kinds of economic activities, which has made the emirate the most ideal place for various economic sectors including commercial, industrial, tourism and cultural. This enhances the regulations that encourage further investment and that has proved its success in attracting investors and the launching of various projects which all contribute to our industry’s increasing growth rate and employment.”

The sectors were distributed among 20900 trade licenses, 18104 vocational licenses, and 1198 industrial licenses, in addition to 13 professional licenses.

Al Mahmoud added: “The gross domestic product (GPD) of the emirate of Sharjah has reached around 42.5 billion AED for 2006, compared to 35.7 billion AED for 2005, achieving an increase of 19%. This is further proof for the success of our investment plans which we have prepared and which have now translated to generating a continuous economic growth for our emirate.”

The general manager of the Sharjah Economic Development presented further figures, on the industrial growth of the emirate. The number of industrial facilities for 2005 has reached 1493 facilities and 1572 facilities for 2006, with a growth rate of 5.3%. The number of industrial licenses for 2005 has reached 1048 licenses, compared to 1198 license for 2006, while out of the 19 industrial areas in the emirate, 17 of them are for different industries, and one (number 18) is for exhibitions and warehouses, in addition to area number 19 in Sajaa.

Al Mahmoud considers that the management of trading license in the department is effective due to their direct contact with the audience. This reflects a modern process through processing work that is based on easing the demand of reviewers and the utilization of hi-technology, which has all contributed to reducing the effort and time it takes to issuing licenses to different sectors, in coordination with other government bodies.

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Wednesday, January 24- 2007 @ 16:05 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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