Monday 25, January 2016

Dubai – MENA Herald: The Department of Economic Development (DED) in Dubai issued 22,691 business licenses in 2015, an increase of 17.4% compared the total number of licenses issued in 2014 and a clear indication that Dubai remains an attractive destination for companies and investors due to robust economic activity prevailing in key economic sectors in the emirate. The latest achievement also rounds up a 75% increase in new licenses between 2010 and 2015, at an annual average of 15%.

A total of 17,131 Commercial licenses were issued in 2015 – up 16.3% – while there was an increase of 9.2% in the number of Tourism licenses (250) and 8% in the number of Professional licenses (5,015). The Industrial sector also saw a 10.5% increase in licenses issued, rounding up another year of growth for all key sectors in Dubai.

Commercial licenses accounted for 75.5% of the total licenses issued in 2015 while Professional licenses had a share of 22.1 %, followed by Industrial (1.3%) and Tourism (1.1%) licenses.

Omar Bushahab, Chief Executive Officer of Business Registration & Licensing (BRL) sector in DED commented: “The increased number of licenses issued in 2015 reflects the continued growth in vital economic sectors in Dubai as well as improved confidence among investors and businessmen about doing business in Dubai. It also proves Dubai has evolved to guarantee sustainable growth for businesses and retain its position as a competitive business hub.”

Bushahab added that DED’s strategy to offer its BRL services across an increasing number of channels including service centres have yielded remarkable results. “Notably, the number of transactions completed grew 14.4 % from 2014 and reached 315,810 in 2015, which is another evidence of the significance of Dubai as a business and commercial hub for the world.”

Bushahab also mentioned that DED has launched varied initiatives to remove obstacles for businesses and align its services with the best in the world to help Dubai meet its objective of being the best business environment and attract investors within and beyond the emirate. He added that year after year Dubai is moving to new levels in terms of sustainable development, owing largely to the added value the city provides to businesses and its strategic role in strengthening partnerships with the business community.

“In 2015, the number of Renewed Licenses (102,807) increased 7.8% and the number of Amended Licenses (94,942) rose 64.8%. We saw a 31.2% rise in the number of Initial Approvals (39,969) in 2015 compared to 2014 and a 17.5% increase in the number of Reserved Trade Names (61,032),” Bushahab stated adding that a 15% increase in expected in Reserved Trade Names in 2016.