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FINANCIAL NEWS
Sharjah sees 7.1% rise in new, renewed licenses
18 Feb 2011
(MENAFN) The Chairman of the Sharjah Economic Development Department (SEDD), Ali bin Salem Al Mahmoud, said that the total number of new and renewed licenses issued in 2010 increased by 7.1 percent, reported Khaleej Times.
Al Mahmoud said that a number of 52,975 new and renewed licenses were given in 2010 and 49,476 in 2009.
The Chairman added that the number of renewed licenses rose by 6 percent to 47,734 in 2010 from 45,048 in 2009. Whereas the number of new licenses went up 18.4 percent to 5,241 in 2010 from 4,428 in 2009.
The increase in the number of licenses issued in 2010 shows that Sharjah’s trade, professional and industrial sectors are continuously growing. The growth is expected to raise Sharjah’s Gross Domestic Product (GDP), diversify its economy and provide people with new jobs opportunities.
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