Quotes: US 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 licenses increased 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.

 






  MENA News Headlines
 Sep 1 2014 - Power oil & gas sectors account for 60 of SR84.9bn contractsArab News
(MENAFN - Arab News) Saudi Arabia recorded a significant upswing in the value of awarded contracts during the second quarter of 2014 as it reached SR84.9 billion. It marked a strong rebound from the ...

 Sep 1 2014 - TADAWUL: Insurance Energy sectors surge over 2Arab News
(MENAFN - Arab News) Saudi Arabia's benchmark the Tadawul All-Share Index (TASI) closed at 11112.12 and ended its Sunday's trading up over seventy points or 0.63 percent. Its year-to-date return ...

 Sep 1 2014 - Basketball: US Spain move to 2-0 Senegal picks up historic winArab News
(MENAFN - Arab News) SEVILLE Spain: United States and Spain both collected their second straight win at the 2014 FIBA Basketball World Cup on Sunday while Croatia fought off tough Argentina and ...

 Sep 1 2014 - Gilas Pilipinas under pressure after 2nd defeat by GreeceArab News
(MENAFN - Arab News) SEVILLE Spain: Gilas Pilipinas ran into a solid Greek wall on Sunday night and was driven on cliff's edge in the Fiba World Cup.Greece used its huge advantage in size and heft to ...

 Sep 1 2014 - Saudi - Labor law violation: 18773 companies face actionArab News
(MENAFN - Arab News) The Labor Ministry has slapped fines worth more than SR10 million on companies after its inspectors found 62762 labor rule violations during raids carried out over the past nine ...

 Sep 1 2014 - Salman-Hollande talks to focus on Mideast turmoilArab News
(MENAFN - Arab News) Turmoil across the Middle East which has led to the death and displacement of millions of innocent people will top the agenda of talks between Crown Prince Salman deputy premier ...

 Sep 1 2014 - Pakistani Army vows to protect democracyArab News
(MENAFN - Arab News) ISLAMABAD: The much-vaunted Pakistan Army declared on Sunday that it was committed to protecting democracy in the wake of anti-government protests.According to media reports ...

 Sep 1 2014 - Breakthrough in GCC-Qatar rowArab News
(MENAFN - Arab News) Saudi Arabia and other GCC states have reached a breakthrough toward ending their dispute with Qatar having agreed on principles to overcome differences leaders of thesix-member ...

 Sep 1 2014 - Cyberspace turning into battlefieldArab News
(MENAFN - Arab News) The US has launched a social media offensive against the Islamic State (IS) and Al-Qaeda setting out to win the war of ideas by ridiculing the militants with a mixture of blunt ...

 Sep 1 2014 - Japan France share spoils in team eventArab News
(MENAFN - Arab News) CHELYABINSK Russia: Japan and France took home the gold medals in the team competition on the final day of the judo World Championships in Chelyabinsk on Sunday.Japan recovered ...

more...


 






Google

Taqs

 
 

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

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

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
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

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


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help