DED sees 4.6% in­crease in new li­cences in 2018

The Gulf Today - Business - - FRONT PAGE -

DUBAI: The Depart­ment of Eco­nomic Devel­op­ment, DED, in Dubai is­sued 20,467 new li­cences dur­ing the year 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 in 2018 - an in­crease of 4.6% over 2017 - as more and more busi­nesses and in­vestors took ad­van­tage of the emi­rate’ s com­pet­i­tive­ness and in­creas­ing op­por­tu­ni­ties across di­verse eco­nomic sec­tors.

Li­cence Re­newals ac­counted for 128,965 trans­ac­tions at the Busi­ness Reg­is­tra­tion & Li­cens­ing (BRL) sec­tor in DED in 2018 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.

As eco­nomic di­ver­si­fi­ca­tion con­tin­ued to gather pace in 2018, all ma­jor eco­nomic sec­tors saw de­mand for var­ied BRL ser­vices. Among the new li­censes 63.2% were Com­mer­cial, 34.5% Pro­fes­sional, and 1.1% were re­lated to Tourism.

The share of In­dus­trial li­cences moved from 1.1% to 1.2% be­tween 2017 and 2018, and the in­crease of over nine per cent as­sumes sig­nif­i­cance in the back­drop of the Dubai In­dus­trial Strategy 2030, which aims to de­velop Dubai into an in­dus­trial and in­no­va­tion hub.

The out­sourced cen­tres, which are the fore­most ser­vice out­lets of DED and key play­ers in en­hanc­ing ease of do­ing busi­ness across Dubai, han­dled 75% (214,337) of the to­tal BRL trans­ac­tions in 2018.

Among the main re­gions, Bur Dubai had the high­est share of new li­cences (11,435), Deira had 8,985 and Hatta, 47. The top sub-re­gions that ac­counted for 48.3% of all the trans­ac­tions in 2018 were: Burj Khal­ifa (11.8%), Port Saeed (6%), Al Mar­rar (5.6%), Al Fahidi (4.3%), Naif (4.0%), Dubai World Trade Cen­tre 1 (3.7%), Al Garhoud (3.6%), Hor Al Anz East (2.6%), Al Karama (2.4%), Al Bar­sha (2.3%) and Al Khubaisi (2.0%).

Trade & re­pair ser­vices ac­counted for 31.6% of the eco­nomic ac­tiv­i­ties li­censed in 2018, fol­lowed by: Real es­tate, leas­ing & busi­ness ser­vices (22.7%), Build­ing & con­struc­tion (14.5%), Com­mu­nity & per­sonal ser­vices (9.7%), Hos­pi­tal­ity & ho­tels (7.2%), Trans­port & stor­age (5%), Man­u­fac­tur­ing (2.9%), Fi­nan­cial bro­ker­age(2.6%), health& labour (1.4%), Ed­u­ca­tion (1.4%), Agri­cul­ture (0.5%), Min­ing & nat­u­ral re­sources (0.2%).

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