Sharjah: The Sharjah Economic Development Department (SEDD) said yesterday it issued 10 per cent more trade licences during the first quarter of this year compared to the same period in 2009. There was 8 and 38.6 per cent growth respectively in renewals and new licences compared to the corresponding period in 2009.
According to Ali Bin Salem Al Mahmoud, General Manager of the SEDD, the continuous growth in the number of trade licences issued by the department over the past few years reflects the emirate of Sharjah's investor-friendly climate.
According to the report, the number of trade licences issued in the first quarters of 2005 through to 2008 was on an upward trajectory for both new and renewed licences. In fact, the growth rate for new and renewed licences during the first quarter of 2008 grew by 24.6 per cent and 14.9 per cent, respectively, compared to the corresponding period in 2007.
However, as the global financial crisis hit economies worldwide by the end of 2008 and throughout 2009, there was a decline in the number of new licences being issued, from 1,748 in the first quarter of 2008 to 1,043 in the first quarter of 2009. Renewed licences, however, increased from 10,849 to 11,272 during that period.
The number of licences issued by SEDD in the first quarter of 2010 increased 10.6 per cent. While new licences increased from 1,043 in 2009 (first quarter) to 1,446 in 2010 (first quarter) resulting in a 38.6 per cent growth rate, renewed licences increased from 11,272 to 12,172 (eight per cent growth) during the same period.
Trade licences came out tops with 754, accounting for 52.1 per cent of the licences issued. This, in turn, is broken down into various activities, with 68 licences for ready-made garments, followed by 44 licences for general trading and 43 licences for mobile phone trading.
Some 665 professional licences were issued, accounting for 46 per cent of total licences in 2010 (first quarter.) Here, contracting licences (grade 6) ranked first with 192, making up 28.9 per cent of the total, while 76 painting contracting licenses (11.4 per cent), 69 coating and flooring licences and 63 decorating licences were issued, making up 10.4 per cent and 9.5 per cent respectively.
The report also shows the emirate's industrial activity is gearing up for possible growth, with 27 industrial licences issued during the first quarter of 2010.
