Sharjah Economy Expands as Industrial and Commercial Sectors Drive Growth

Sharjah’s business sector maintained its growth trajectory through the first half of 2024, supported by an increase in industrial output and a rise in new commercial registrations. The emirate’s economic performance remains tethered to the broader resilience of the UAE economy, which continues to see expansion in non-oil sectors despite global market fluctuations. Growth in Commercial Licensing Data from the Sharjah Economic Development Department (SEDD) indicates a steady rise in business activity across various sectors. In the most recent reporting period, the department recorded over 15,000 issued and renewed licenses, representing a consistent year-on-year growth. This uptick is driven largely by the professional and commercial categories, which account for the majority of new business setups in the emirate. The retention rate for existing businesses also remains high, with license renewals showing a 2% increase compared to the previous year. This stability is attributed to Sharjah’s operational costs and the availability of specialized free zones, including the Sharjah Airport International Free Zone (SAIF Zone) and the Hamriyah Free Zone, which cater to heavy industry and…