Key Points

The session was held at the council's headquarters in Sharjah, chaired by Abdullah Belhaif Al Nuaimi, Chairman of the Council. Attending were Hamad Ali Abdullah Al Mahmoud, Member of the Sharjah Executive Council and Chairman of SEDD, and Fahad Ahmed Al Khamiri, Director of SEDD, along with other senior officials.

Al Mahmoud affirmed that SEDD's mission is to develop Sharjah's economy and provide distinguished services to investors, adopting the latest technologies and working towards service innovation and simplification.

He reviewed the department's key services and policies, stressing its vital role in supporting economic and investment sectors and ensuring Sharjah remains a leading destination for entrepreneurs and investors.

Finally, Al Mahmoud and his team presented a positive economic outlook for Sharjah. They reported that SEDD's revenues for 2024 reached AED 1.07 billion, a growth of 11 per cent, with 72,406 active business establishments. Licence issuance and renewals also recorded significant growth rates of 6 per cent and 7 per cent, respectively.

Council members then engaged in discussions, raising questions and offering suggestions. Topics included proposing incentives and legislation to enhance the sustainability of economic activities and address business leakage from the emirate.

Further questions were raised concerning commercial licensing processes, the use of foreign trade names, compliance with anti-money laundering regulations, and the need to better regulate sectors such as the used car parts trade in Sharjah's industrial areas.

Suggestions also included establishing a quality rating system for private sector services, supporting local farmers to enhance food security, facilitating banking services for businesses in sensitive sectors, and implementing policies to ensure balanced economic growth between development and environmental protection. (ANI/WAM)

- ANI