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|14 March, 2018

Business licensing in Dubai retains momentum in February

Department of Economic Development, DED, has issued 1,646 new business licences during February 2018.

Dubai Department of Economic Development, DED, has issued 1,646 new business licences during February 2018. Image for illustrative purposes.

Dubai Department of Economic Development, DED, has issued 1,646 new business licences during February 2018. Image for illustrative purposes.

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DUBAI- The Department of Economic Development, DED, has issued 1,646 new business licences during February 2018 and completed 23,407 business registration and licencing transactions, as Dubai maintained its ability to attract businesses looking to grow competitively and sustainably.

Of the total, 11,300 transactions were related to renewals while 2,060 Initial Approvals were given and 3,029 trade names reserved during the same period, as seen on the ‘Business Map’ digital platform.

Business Map tracks business registration and licencing in DED and seeks to reflect the economic realities in Dubai by providing vital data on each license category, including their numbers and distribution as well as investor trends on a monthly basis. February 2018 also saw 1,646 transactions relating to commercial permits, 1,644 Auto Renewals, 11 Instant Licences and 67 e-Trader licences.

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Majority of the transactions were related to commercial licenses at 62.3 percent, followed by professional, industrial and tourism categories. The Outsourced Service Centres, which have become a sought-after service outlet for the Business Registration and Licencing, BRL, sector at the Department continued to witness increased activity in February accounting for 18,977 transactions, or 79 percent of the total, during the month. BRL activity in February 2018 covered all major sectors and services reflecting the overall optimism prevailing over the emirate’s business competitiveness and sustainability potential.

Real estate leasing and services accounted for 26.9 percent of transactions, followed by community and personal services (12.4%), construction and building (14.4%), hotels (8.1%), transport, storage and communications as well as manufacturing at 2.3 percent each, financial brokerage (2.5%), procurement (0.8%), agriculture (0.4%), occupational health (0.7%) and education (0.6%). Top nationalities that sought BRL services in February 2018 included Indians, Pakistanis, Egyptians, British, Saudis, Chinese, Jordanians, Syrians and Americans.

© Copyright Emirates News Agency (WAM) 2018.