Dubai Economy Issues 1,638 New Licenses in January 2018
Investors in Dubai, buoyed by the expansionary spending policies and their anticipated impact on the economy, kept business registration and licensing hectic in the emirate during the first month of 2018. Dubai Economy issued 1,638 new licenses and gave Initial Approval to 2,087 in 23,626 registration and licensing transactions in January 2018 as recorded in the ‘Business Map.’
Category-wise, Commercial licenses led the list of new licenses at 58% while Professional licenses stood second at 39.9%. Industrial licenses accounted for 1.1% and Tourism licenses, 1%. Indians, Pakistanis, Egyptians, Jordanians, Britons, Saudis and Chinese were among the top investors in January 2018.
The ‘Business Map’ tracks activities of the Business Registration & Licensing (BRL) sector in Dubai Economy to reflect the economic realities in Dubai, providing vital data on each category of licenses including their numbers and category-wise distribution as well as investor trends on a monthly basis.
The distribution of BRL activities in January 2018 also underline the growing appeal of the innovative and smart solutions introduced by Dubai Economy to enhance of ease of doing business as well as the attractiveness of Dubai as a competitive hub for sustainable business growth.
The Auto Renewal service was used for 1,600 BRL transactions in January while 131 transactions relating to the Instant License and 41 e-Trader transactions were also recorded during the same period. Trade Name Reservations accounted for 3,072 transactions and 11,195 were related to Amendments. Commercial Permits had a share of 1,494 in the total transactions.
The Outsourced Service Centres continued to attract a significant number of Dubai Economy customers as 19,239 transactions were completed through such centres.
Bur Dubai topped the list for new licenses issued with a share of 788, followed by Deira 682, New Dubai 157 and Hatta 11. Among the top ten sub-regions that together accounted for 51.7% of all new licenses Burj Khalifa was in the lead at 13.7%, followed by New Dubai 9.3%, Al Marar 6.8%, Naif 4.8%, Port Saeed 3.7%, Trade Centre 1 3.5%, Hor Al Anz 2.5%, Al Garhoud 2.4%, Al Barsha 1 2.1%, Al Wasl 1.9%.
Trade and repair services retained its position as the number one activity licensed 35.1% and real estate, leasing and business services followed with 26.2%. Community and personal services (15%), Construction 14.7%, Hotel Groups 7%, Transportation, storage and communications 4.2%, Manufacturing 2.8%, Financial Brokerage 2.5%, Contracting 1.2%, Agriculture 0.8%, Health and Labour 0.7%, and Education 0.7% were the other main activities licensed.
Department of Economic Development Abu Dhabi
The economy of Abu Dhabi has occupied an outstanding position and attained a high level of competitiveness in many sectors, Abu Dhabi Department of Economic Development (DED), within the framework of its duties and responsibilities set by Law No. (2) of 2009 on its establishment, leads Abu Dhabi economic agenda through taking responsibility for achieving the objectives of Abu Dhabi plan’s economic development hub that focuses on creating a flexible competitive environment for business, establishing an effective private sector and creating leading investment opportunities in light of the vital sectors’ active participation for the contribution to sustainable economic development achievement.
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