Dubai issues over 2,200 new licences, creates 8,500 jobs
dubai — Inflow of new companies continued into Dubai as the economic activity improved in the month of February, resulting in more than 8,500 jobs creations by the new companies, official figures showed on Monday.
According to the Business Registration and Licensing (BRL) sector of the Department of Economic Development in Dubai, 2,204 new licenses were issued in February 2019 as compared to 1,606 in February 2018, a growth of 37 per cent.
Among the new licenses issued, 61.1 per cent were commercial, 36.5 per cent professional, 1.7 per cent related to tourism and 0.7 per cent industry.
The new licences created 8,515 jobs in Dubai, DED said in a press statement on Monday.
The report also showed that the top nationalities who secured licences in February 2019 were India, followed by Pakistan, Bangladesh, Egypt, Britain, China, Jordan, Saudi Arabia, Lebanon and France.
Hence, it can safely be assumed that most of the jobs were also new jobs went to residents of Subcontinent, especially from India, Pakistan and Bangladesh etc.
A recent survey by online recruitment firm GulfTalent revealed a 9 per cent growth in UAE’s employment sector in 2019, with an increasing share of the new jobs being filled by Asian professionals, citing the lower salary expectations of these candidates as the primary reason. The survey results revealed that among nationalities commanding a significant share of the UAE hiring activity, Indian and Pakistani professionals have seen the biggest surge in interest from employers over the past year, followed by those from the Philippines and Sri Lanka.
Data from the Department of Economic Development revealed that trade and repair services accounted for 33.9 per cent of the new licences issued in February 2019 followed by real estate, leasing
37%
Jump in February licences compared to last year
& business services (26.8 per cent), building & construction (14.7 per cent), community & personal services (10.7 per cent), hotels group (4.4 per cent), transport, storage & communications (3.4 per cent), manufacturing (2.7 per cent) and others. This means that most of new jobs were also created in these sectors.
Bur Dubai accounted for the largest share with 1,163 licences, followed by Deira (1038), and Hatta (3) and others.
The Department recorded 25,269 business registration and licensing transactions in February 2019 compared to 19,885 in February 2018, a growth of 27 per cent. The report showed that Licence Renewal accounted for 12,018 transactions in February 2019, a growth of 52 per cent compared to February 2018 (7,906),
while 5,379 transactions were related to Auto Renewal via text messages. The number of Trade Name Reservations was 3,390, a growth of 20.6 per cent compared to February 2018 (2,812), while the number of Initial Approvals reached 2,503, a growth of 21.6 per cent compared to February 2018 (2,058), and the number of Commercial Permits reached 1,465 permit. The Department also issued 156 instant licenses.
The outsourced service centres of DED issued 18,241 transactions, a growth of 72.2 per cent.