Sharjah GDP grows 4% to Dh152b

Sharjah's GDP grew 4 per cent last year to reach Dh152 billion, driven by manufacturing, construction and other sectors. Sultan Abdullah bin Hadda Al Suwaidi, Chairman, Sharjah Economic Development Department (Sedd), said the emirate's manufacturing sector expanded 6 per cent followed by construction at 5 per cent, restaurant and hotel at 5 per cent, real estate and services sector at 4 per cent and wholesale and retail at 3 per cent.

While releasing the Sixth Annual Report 2016, he said the department implemented a number of economic initiatives and policies that helped achieve customer and investor convenience. In addition, Sedd e-services reached 75 and 46 smart services for mobile apps.

The department added 72,000 active licences with a growth rate of 61 per cent. Furthermore, the Department contributed in the development o the economic field in 2016 which was based on sustainability and competitiveness, simplifying procedures, as well as relying on international competitiveness indicators. The department also focused on the development of national industry, improvement of commercial sector, and establishment of economic centers throughout the Emirate. - waheedabbas@khaleejtimes.com

Source: Khaleej Times