The Sharjah Consultative Council (SCC) Committee recently conducted a comprehensive review of the Department of Economic Development’s (DED) roles, responsibilities, and initiatives. This evaluation aimed to assess the department’s efforts in driving economic growth, fostering business-friendly policies, and enhancing the overall investment climate in the emirate.
Strategic Vision and Economic Growth
The review focused on the DED’s strategic vision, which aligns with Sharjah’s economic diversification goals. The committee examined how the department is supporting various sectors, including industry, trade, and services, to boost competitiveness and attract foreign investments.
One of the key discussions centered on how the DED is facilitating ease of doing business in Sharjah. The department has implemented several initiatives to streamline business registration, licensing, and regulatory processes, ensuring a seamless experience for entrepreneurs and investors.
Investment and Business Development
Sharjah has established itself as a hub for investment and enterprise, and the DED plays a crucial role in maintaining this reputation. The committee reviewed various business development programs, incentive schemes, and support mechanisms available for startups and small-to-medium enterprises (SMEs).
The review also covered ongoing efforts to modernize economic infrastructure, including digital transformation projects that enhance service efficiency. These initiatives include online licensing platforms, e-services for trade name registration, and digitized approvals for commercial activities.
Enhancing Regulatory Frameworks
A well-regulated economic environment is critical for sustainable growth, and the SCC Committee emphasized the importance of continuous regulatory improvements. The discussion highlighted the need for periodic policy updates that align with international best practices while catering to the evolving needs of local and international businesses.
The committee also explored measures to ensure consumer protection, fair competition, and corporate governance, reinforcing the role of the DED in maintaining a transparent and dynamic market environment.
Support for Local Entrepreneurs
The SCC Committee commended the DED’s efforts in supporting Emirati entrepreneurs and homegrown businesses. Several initiatives, such as business incubators, financial support programs, and skill development workshops, were reviewed as part of the discussion.
Additionally, the council assessed the effectiveness of partnerships with private sector entities and educational institutions to equip local entrepreneurs with essential tools for business success.
Future Outlook and Recommendations
Looking ahead, the SCC Committee recommended further strengthening public-private partnerships to drive innovation and sustainability in Sharjah’s economy. Enhancing access to financing options for startups, implementing smart economic policies, and expanding sector-specific incentives were among the key suggestions put forward.
The review concluded with a call for ongoing collaboration between the SCC and DED to ensure that Sharjah remains an attractive and resilient economic destination. With continuous improvements and strategic policy-making, the emirate is well-positioned for sustained economic progress in the years to come.
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