The Sharjah Economic Development Department (SEDD) has formed a partnership with the Department of Statistics and Community Development (DSCD) to improve economic data collection and classification in the emirate. This collaboration aims to enhance the quality and accuracy of economic data, which is essential for conducting precise economic surveys across various companies and institutions. The initiative supports sustainable economic development in Sharjah.

HE Fahad Ahmed Al Khamiri, SEDD Director, emphasized the importance of working with relevant entities, particularly DSCD, to strengthen statistical and economic data capabilities. He reaffirmed SEDD’s commitment to collaborating closely with DSCD to enhance data collection on businesses and economic establishments, which will improve the accuracy of economic analysis. This effort will aid informed decision-making, provide insights into company outputs and investor needs, and enhance the overall customer experience—key priorities outlined by the Executive Council led by His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah.

Al Khamiri noted that the results of this partnership would soon be evident in reports and data exchanges, contributing to increased market efficiency and directing investments toward promising sectors. This collaboration is expected to bolster Sharjah’s GDP and strengthen its economic position. Furthermore, SEDD is actively classifying economic data, evaluating the economic landscape, and monitoring the life cycle of companies. These actions aim to create accurate, data-driven insights that improve the investment climate and enhance corporate productivity assessments.

Abdullah Al Kadid Al Mahrazi, Director of the Statistics Department at DSCD, highlighted the importance of statistical maturity, stating that using government records as primary sources of information is vital. He stressed the need for standardized statistical methodologies and unified economic classifications to enhance integration among stakeholders and maximize economic benefits for the emirate. Al Mahrazi underscored that accurate and comprehensive data is fundamental to effective policy formulation and economic development, leading to a more transparent and efficient business environment.

Additionally, Al Mahrazi pointed out that adhering to economic classifications is crucial for accurately measuring the size of Sharjah’s economy across various sectors. This adherence is integral to developing precise economic indicators and informing policy decisions. He noted that economic classifications should be regularly reviewed and updated to reflect changes in the economic landscape, ensuring they remain relevant for decision-making.

Both SEDD and DSCD have agreed to enhance their human, logistical, and technical capabilities to support annual economic surveys, statistical studies, and the preparation of indicators that accurately reflect economic realities. SEDD also committed to maintaining the confidentiality of economic establishment data in accordance with legal provisions, ensuring that information is used solely for analytical and developmental purposes.

In conclusion, Al Mahrazi praised SEDD’s crucial role in facilitating business operations in Sharjah and its ongoing support for the private sector. He expressed optimism that the collaboration between SEDD and DSCD would serve as a model for integrating statistical and economic efforts, ultimately reinforcing Sharjah’s position as a leading economic hub in the region.