Business | Economy
Sharjah sees surge in companies growth
The number of companies registered in Sharjah has increased about 15 per cent in the past year, taking the total to 45,000, a top government official said.
- By Nadia Saleem, Staff Reporter
- Published: 23:15 November 25, 2008
- New Sharjah Chamber of Commerce and Industry offices, set to be officially opened today by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Supreme Council Member and Ruler of Sharjah.
- Image Credit: Ahmed Ramzan/Gulf News
Dubai: The number of companies registered in Sharjah has increased about 15 per cent in the past year, taking the total to 45,000, a top government official said.
Compared to this, the number of companies registered with the Dubai Chamber of Commerce and Industry rose to 130,000.
Hussain Al Mahmoudi, Director General of the Sharjah Chamber of Commerce, spoke to Gulf News about the growing economy of the UAE's third largest emirate.
"There are different institutions that are trying to attract business into the emirate. The Economic Department is playing a vital and intelligent role in developing a set of policies and regulations to support that," he said.
Sharjah's gross domestic product (GDP) has increased 58.1 per cent in the past two years, bringing it up to Dh68.4 billion, Al Mahmoudi said. The emirate currently generates 9.37 of the UAE's GDP of Dh729.7 billion.
The industries contributed about Dh12 billion to the economy, services added Dh10 billion to Dh12 billion, real estate Dh5 billion to Dh6 billion and retail accounted for another Dh5 to Dh4 billion, according to Al Mahmoudi.
The government sector is contributing 17.8 per cent to the emirate.
The share of commodities that includes agriculture, manufacturing, construction and utilities represents Dh29.6 billion of Sharjah's GDP in 2007 figures, increasing from Dh24.7 billion in 2005.
"Sharjah has taken very sustainable steps when it comes to its economy. It has recently launched ambitious exercises for exploration for gas and oil, onshore and offshore.
Al Mahmoudi said the focus by the government "has been on building the infrastructure and improving the road capabilities of such an important and central emirate of the UAE."
The recent addition into the industrial infrastructure is the Emirates Industrial City, he said.
"These cities can play a very important role in attracting companies to Sharjah," he said.
"With the various value propositions that Sharjah provides, in the industrial areas will flourish. The cost price is reasonable and the infrastructure is very good."
Share this article
More from Economy
More from Business
Popular in Business
-
Budget travel
Airlines in the region
Take a pictorial look at some of the budget airlines in GCC
Business Editor's choice
-
New law to protect investor rights
Dubai land department is studying legislation to protect property purchasers
-
Global Village
Revamped layout featuring four cultures to greet visitors this season
-
Cloud computing is here to stay
Managing security effectively is critical when sharing data over the internet
