Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Licensing activity in Dubai rises further on investor confidence  Join our daily free Newsletter

MENAFN Press - 16/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) The number of business licenses issued by the Department of Economic Development (DED) reached 18,757 in 2013, an increase of 12 per cent over the 16,791 licenses issued in 2012, reaffirming rising investor confidence in Dubai as a thriving business hub



Sector-wise, Professional licenses showed the biggest increase of 18 per cent year-on-year in a further indication of Dubai's rising appeal as a services centre while Commercial licenses grew by 10 per cent and Industrial licenses by four per cent. Licensing in Tourism sector remained stable.



Commenting on the rise in number of licenses Mohammed Shael Al Saadi, Chief Executive Officer of Business Registration and Licensing (BRL) sector in DED said Dubai enhancing its appeal among investors proved that the emirate is taking the right steps to improve ease of doing business and capitalise on its competitiveness.



"With the 'Smart City' vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, we will witness a new level of competitiveness. DED will ensure that our customers benefit from this vision," added Shaal



A total of 112,487 licenses - up eight per cent from 2012 - were renewed in 2013 while the number of amended licensesincreased nine per cent to 74,061. Initial approvals rose 15 per cent to reach 33,729 while reserved trade names also rose 15 per cent to 74,750. The total number of BRL transactions in 2013 was 615,533, up four percent from the previous year




The number of licenses issued to companies according to legal status reached 18,755 in 2013. Limited liability companies (LLCs) topped the list at 12,240, showing a growth of 11 per cent from the 11,039 recorded in 2012. Sole proprietorship licenses increased from 4,711 in 2012 to 5,375 “ or 14 per cent “ last year.



The number of foreign nationals obtaining licenses in 2013 was 111 compared to 102 in 2012 and British nationals accounted for the biggest share of 14 licenses. US, Lebanese, Indian and Swiss nationals were among the other leading foreign investors in Dubai last year



The top ten business activities licensed in Dubai in 2013 accounted for 24 per cent, or 14,727 in a total of 61,041, in 2013 as against 14,484 in a total of 59,452 in 2012. General trade led the list of the top 10 licensed activities, raising its share to 2,554 from 2,293 in 2012. Reflecting the improvements in construction activity dyes & paints, carpentry and flooring & tiling were the main activities that were on a flourish last year



About Department of Economic Development (DED):
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.

 


MENAFN Press




  MENA News Headlines
 Jul 27 2016 - Ascott, Bathel Alkhair agree on project in RiyadhMENAFN
(MENAFN) Ascott, a leading service residence owner-operator, is seeking to expand its operations in Saudi Arabia with plans for The Ascott Villas Riyadh.The company signed an agreement with Bathel ...

 Jul 27 2016 - Omran's to deliver three new hotels in MuscatMENAFN
(MENAFN) Oman Tourism Development firm (Omran), a leading tourism developer, heritage and multi-use projects, is on its way to deliver three new hotels in Muscat, boosting room's capacity in Oman by ...

 Jul 27 2016 - Dubai, Abu Dhabi witness Residential rents dropMENAFN
(MENAFN) Residential rents in Dubai and Abu Dhabi has experienced a remarkable drop during the first six months of this year, compared to the same period in 2015, according to a report.In detail, ...

 Jul 27 2016 - Libya fund picks PwC as official advisorMENAFN
(MENAFN) The Libyan Local Investment & Development Fund's (LLIDF) has chosen the professional services firm PwC as its advisor to enhance feasibility studies for three strategic schemes.By the ...

 Jul 27 2016 - Global companies battle to win Saudi projectsMENAFN
(MEANFN) A number of international firms have submitted bids for a consultancy deal to manage Saudi Arabia's National Project Management Office.In detail, a local report in Saudi has revealed that ...

 Jul 27 2016 - Kuwait- Visa for parentsArab Times
(MENAFN - Arab Times) I am in India and daily read the Legal Clinic column of your newspaper. I wish to get your advice on following problem, which you may or may not print it in newspaper. My son ...

 Jul 27 2016 - Kuwait- Landlord problems - Villa rentalArab Times
(MENAFN - Arab Times) First of all I would like to appreciate your service as it helps a lot in understanding the Kuwait laws. Getting further, our house owner has been creating problems for us. We ...

 Jul 27 2016 - It is Erdogan-Brotherhood coupArab Times
(MENAFN - Arab Times) Ahmed Al-Jarallah Editor-in-Chief, the Arab Times IT IS no longer hidden to anybody that Recep Tayyip Erdogan has turned what appears to be a botched coup d'etat, which to him ...

 Jul 27 2016 - Kuwait- Bachelor 'invasion'Arab Times
(MENAFN - Arab Times) I was living in one of the most peaceful residential areas an expat could dream for the last 12 years. I am talking about Block 1, Abu Halifa. In the last few years, a lot of ...

 Jul 27 2016 - Kuwait- Employees problemsArab Times
(MENAFN - Arab Times) I am writing to the Arab Times because I need advice regarding my employment status. Here's my story: Company A and company B went to a certain country to recruit employees. ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help