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SCC calls for building a diversified competitive economy based upon knowledge and innovation

March 7, 2021
finance & economy

SHARJAH, 6th March, 2021 (WAM) -- The Sharjah Consultative Council (SCC), in its 12th session held on Thursday, approved its recommendations on discussing the policy of the Sharjah Economic Development Department (SEDD), as part of its work for the second ordinary session of the tenth legislative session.

The recommendations called for achieving a diversified competitive economy based on knowledge and innovation, creating an attractive investment climate, and working to reduce fees for commercial licenses issued by the department, to encourage investors to stay and continue their economic activities in all cities and regions in the emirate.

The recommendations also called for anticipating the future by adopting ambitious plans and programmes that attract investors and work to stabilise foreign companies in continuing their investments in the emirate, and to attract new companies to open branches in the emirate and to enact modern incentive initiatives for entrepreneurship, targeting emerging and young entrepreneurs, and re-examining the current license fee policies for activities of establishments in the Eastern and Central regions, along with the possibility of reducing them, while emphasising the support of the agricultural sector and local fisheries, and a statement of their role in the sustainability of food security and other recommendations requested by the Council.

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