Department of Economic Development in Dubai says it issued 20,467 new licences during 2018
The Department of Economic Development (DED) in Dubai issued 20,467 new licences during 2018 as the emirate continued to enhance its appeal as a destination for sustainable business growth.
Overall, 248,769 business registration and licensing transactions were recorded in the Business Map digital platform of DED last year, an increase of 4.6 percent over 2017, as more businesses and investors took advantage of the emirate’s competitiveness and increasing opportunities across diverse economic sectors.
The Business Map also showed that women increased their share among the new business owners to 22.2 percent (5,543) from 12 percent in 2017, underlining Dubai’s importance as an ideal launchpad for all categories of entrepreneurs and investors.
The top 10 nationalities of new licencees in 2018 were Indians, Pakistanis, Egyptians, Chinese, British, Saudis, Bangladeshis, Jordanians, Canadians and Filipinos.
Licence renewals accounted for 128,965 transactions at the Business Registration & Licensing (BRL) sector in DED while 24,859 were related to initial approvals.
There were also 35,563 transactions related to trade name reservation, 50,148 auto renewal transactions, 1,202 instant licence procedures, and 1,075 DED trader transactions.
Among the new licences issued, 63.2 percent were commercial, 34.5 percent professional, and 1.1 percent were related to tourism.
The share of industrial licences moved from 1.1 percent to 1.2 percent between 2017 and 2018, and the increase of over 9 percent assumes significance in the backdrop of the Dubai Industrial Strategy 2030, which aims to develop Dubai into an industrial and innovation hub.
Trade & repair services accounted for 31.6 percent of the economic activities licensed in 2018, followed by real estate, leasing & business services (22.7 percent), building and construction (14.5 percent), community and personal services (9.7 percent), hospitality and hotels (7.2 percent) and transport and storage (5 percent).
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