The production and packaging of spices offer strong opportunities for growth
Dubai: The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, in its new report, states that 514 companies operate in the spice trade sector in Dubai.
The report, which includes statistics on the number of companies operating in Dubai and their activities, aims to familiarise entrepreneurs with the spices sector, and highlight its role in adding value to the economy.
Of the 514 companies, 375 licences were issued for “Trading of spices”, 132 for “Packaging of spices”, and seven for “Preparation of sauce and spices”. The first three companies were established in 1963 and are still operational.
The report also showed that Indians led the top ten nationalities investing in this sector followed by the citizens of Kuwait, Pakistan, Saudi Arabia, Egypt, Lebanon, Jordan, USA, Britain and France. The number of investors in the spices sector stands at 2,642 including 2,497 businessmen (95%) and 145 businesswomen (5%). The number of workers in the spices sector reached 1,210, while the operational rate of the companies is 72%.
Despite the growth in imports of spices, locally produced spices have been able to compete and sustain growth. This is evidenced by the increase in the number of local brands and the continued growth in demand with the products serving as basic food items for Emiratis, Arab, Asian and European families living in the country.
Brands that are locally produced or packaged have grown in recent years led by competitive factors including quality and cleanliness, and high standards of packaging, compared to similar Asian products.
-Ends-
About the Department of Economic Development, Dubai
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth. DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.
For further information on DED, please contact:
Nafisa Elmarzouky, Phone: +971 4 445 5987, nafisa.elmarzouky@dubaided.gov.ae
Or Faisal Shamsudheen, Phone: +971 4 445 5927, faisal.pathiasseri@dubaided.gov.ae
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
