DUBAI 16 July 2017: The Business Registration and Licensing (BRL) Sector at Dubai Economy has registered record results in the number of licenses issued in the first half of 2017 with 10,455 commercial licenses issued at an average of 1,743 licenses per month, while the total number of licenses renewed was 71,831 at a monthly average of 11,971.
These results underline the sustainable growth achieved by companies in various commercial activities, and the competitiveness of the business sector in Dubai and the UAE.
According to a statement carried by Wam, new commercial licenses issued during the first half of 2017 included, 73 percent trade licenses, 23.4 percent professional licenses, 1.9 percent industrial licenses, and 1.7 percent tourism licenses, reflecting Dubai’s position as the one of the world’s leading shopping destinations.
The total number of reserved trade names during the first half of 2017 was 6,776, a monthly average of 3279, while the total number of initial approvals during the same period reached 13,475, at a monthly average of 2245. The number of amended licenses reached 16,683 commercial licenses at 2614 licenses per month.
The strategic guidance provided by Dubai’s leadership in stimulating diversification and removing barriers for entrepreneurs and investors in vital sectors has been contributing to the accelerated development of the economy. The latest figures on business licensing proves the investor focus on Dubai and the regional and global competitiveness of the emirate.
The BRL aims to consolidate and enhance sustained economic development in Dubai through targeted initiatives, and the application of best practices for ease of starting and doing business.
Dubai Economy’s strategy focuses on facilitating business activity and company formation in Dubai by enabling entrepreneurs and investors to complete their transactions in the least possible time and reinforces Dubai’s business leadership and competitiveness ranking in the World Bank report on Doing Business.
By Rajive Singh