SHARJAH, 30th January, 2019 (WAM) — Industrial production in Sharjah reached AED41 billion last year, according to the Sharjah Economic Development Department, SEDD.
The industrial licences indicator showed some remarkable achievements, whereas the number of issued industrial licences grew by 14 percent in 2018 as compared to 2017 with 174, and 1890 renewed.
According to a report from the department, the contribution of manufacturing industries to GDP reached AED15.7 billion, representing 17 percent of GDP, while the sector witnessed new industrial growth in different parts of the emirate. Thus, the index grew in the city of Khor Fakkan and Kalba by 200 percent, while the volume of industrial growth in Al Dhaid reached 46 percent.
Sultan bin Abdullah Al Suwaidi, SEDD Chairman, stressed that the industrial sector is one of the most important components of the economy in the Emirate of Sharjah. The sector continues to grow steadily. Also, it helps to introduce modern technology, which provides the sector with competitive factors with the global industrial sectors.
He added that the department was keen to develop a map of industrial investment in the emirate in cooperation with the concerned government agencies seeking to attract more investments to the emirate. He stressed the absolute commitment of the department to adopt best practices that will create a competitive environment to attract and attract investments to Sharjah. Such a thing helps in moving towards sustainable economic growth and building a productive economy in accordance with the vision of H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah.
Al Suwaidi pointed out that the industrial growth in the emirate is in line with the economic diversification process in the country, where small and medium enterprises play a very important part of the diversity system, which is the largest of the global economies. In addition, the emirate provides a safe and stable environment for business, encouraging many foreign investors to work in the emirate.
Mariam Naser Al Suwaidi, Deputy Director of Industrial Affairs in SEDD, said that Sharjah is an ideal investment environment, especially in the industrial sector, as it provides investors with facilities and quality services. The emirate is also one of the largest industrial areas in UAE. In addition, SEDD pays great attention to adopting a clear strategy for the development of industrial investment in the emirate.
She clarified that the Industrial Affairs Department had achieved many results in 2018 as it continued field visits, monthly communication, and meetings with investors in order to develop and support the industrial sector within the Emirate of Sharjah. The Department also contacted 1,123 of the Department’s customers and conducted 218 field visits to discuss the challenges and difficulties encountered in the industrial sector and on how to provide facilities for new companies to open bank accounts.
She explained that the department had signed and activated a number of agreements, launched a number of initiatives to support the industrial sector in Sharjah, and strengthened its strategy to support the industry and develop the domestic export sector by working with industrial companies in various sectors and harnessing all support services required to achieve growth that operates in global markets.