Monday , August 26 2019

Sharjah industrial output reaches AED41bn in 2018

SHARJAH / WAM

Industrial production in Sharjah reached AED41 billion in 2018, 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 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 vision of HH 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.

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