Dubai, March 6, 2006 (WAM) - The Department of Economic Development (DED) announced that the application of the Data Universal Numbering System (D-U-N-S Number) for all companies registered with the Department has started from the beginning of the current month (March). The D-U-N-S Number will be issued to all new licences registering with the DED in addition to licences that come up for renewal or amendments, in order to ensure that the initiative is implemented in a comprehensive manner across the entire spectrum of companies.
The DED announced the launch of the DUNS number late last year and is the first government department in the region to introduce such initiative, in an attempt to facilitate Dubai-based companies to expand their operations on a global platform, according to a press release.
The Dun & Bradstreet (D&B) D-U-N-S Number is a unique nine-digit sequence recognized as the universal standard for recognizing businesses worldwide.
The new service introduces an internationally recognized corporate identifier, which will function like a globally-enabled trade license number. It also complies with the mandate of the DED to create the appropriate environment for investors and encourage local and foreign investments in commercial and industrial projects."As it has become increasingly important to further the reach of Dubai-based companies in the international business arena, the Department decided to issue the globally recognized D-U-N-S Number to all companies already registered with the DED in order to enhance their international visibility and facilitate local companies to explore business opportunities worldwide," said Ali Ibrahim, Deputy Director General for Executive Affairs, DED.
"Many governments and major corporations have made the D-U-N-S Number a mandatory requirement for their suppliers and contractors. Providing Dubai-based companies with this value added service numbering will enhance the credibility of their business in the marketplace, thereby enabling opportunities for further expansion into the international market." Mr. Ibrahim added.
Mr. Ibrahim further said: "Trust is a key factor in everyone's decision process today, especially within the e-commerce marketplace. We also recognize that cross-border trade has become a particularly significant aspect of our economy. All this has created an urgent need for an internationally recognized business identifier and the universally recognized D-U-N-S Number offers an excellent solution." The D-U-N-S Number automatically ensures a listing on the D&B website (www.dnb.com), which is one of the most visited B-2-B portals worldwide, thereby linking the company to a wealth of quality global information products and services.
The listing increases the potential of new opportunities to present themselves to our local companies by facilitating their interactions with prospective international trading partners. It also enables companies to take advantage of new automated transaction technologies.
The D-U-N-S number is unique to each business as no two businesses receive the same number and the numbers are never recycled. It is retained through the life of a business even when the company moves its physical location.
Every business is validated before inclusion in the D&B database and the Data elements provided in application form are verified by D&B.In addition to propelling the local companies on to the global market place, the D-U-N-S Number is expected to bring several advantages for businesses including identifying cross selling opportunities.
