(MENAFN - Khaleej Times) The Sharjah Department of Statistics and Community Development (DSCD) has rolled out the implementation phase of its latest economic survey project, which will encompass all administrative communities and free zones in the emirate.
The project was unveiled in January this year. More than 5,800 organisations from all areas and cities of Sharjah including 860 major companies have been notified by DSCD about the survey. The survey's objective to collect performance data of public and private sector companies, as well as non-profits. The final report will be a comprehensive analysis of sector-by-sector growth of Sharjah, its current economic realities, and will accurately identify each sector's contributions to the emirate's economic diversification process.
In addition to measuring the overall economic performance of the emirate in this fiscal year, the survey report will offer local and global investors fresh insight into the opportunities and challenges unique to each sector in the emirate of Sharjah, and allow them to better determine their areas of interest.
This new survey follows from the one DSCD carried out in 2018, with 12 specific goals laid out including touchpoints like GDP, salaries of male and female workers, and income of numerous markets classified under sectors, areas and regions in Sharjah. All these factors were measured in the data they collected from 3,511 establishments, and used the UN-approved survey methodology of the 2008 System of National Accounts (SNA 2008) to process and present its findings.
Sheikh Mohammed bin Humaid Al Qasimi, chairman of DSCD, said: "This survey will provide latest statistical data in accordance with the highest international standards aims, identifying new and emerging challenges faced by all the sectors this study will cover. A statistical analysis of real-time data collected from a city's or country's economic sector is a key methodology to measure their overall economic performance and growth. Through these annual surveys, DSCD furthers its mission to offer governments and investors a clear understanding of Sharjah's year-on-year growth comparison, and an insight into key variables driving the emirate's diversification process, in view of more recent market variables that come into play owing to changing business trends and global annual business performance."
Al Qasimi added: "The project is equally relevant to the UAE and the region, as Sharjah is one of the main drivers of the local economy. The comprehensive nature of the survey - covering all major sectors of our economy - will lead to findings, which will be key to assessing future investment prospects."
In order to maximise the survey's scope and encourage larger participation, DSCD has briefed the project's researchers to distribute questionnaires to around 1,500 small and medium establishments (SMEs) situated beyond the parameters of the areas designated for this survey. The Sharjah Department of Statistics and Community Development also partnered with the administrations of the free zones to send official requests to all free zone companies to participate in the survey.