Dubai Economy issued 4,796 new licenses in February 2021, YoY growth of 3.4%

Dubai Economy issued 4,796 new licenses in February 2021, YoY growth of 3.4%

The Business Registration and Licensing (BRL) Sector in Dubai Economy issued 4,796 new licenses in February 2021, an increase of 3.4% from the 4,639 new licenses issued in February 2020. Among the new licenses issued in February 2021, 57% were professional (2,730), followed by 41.5% commercial (1,992), and the rest were distributed among tourism and industrial activities.

According to the main areas, Bur Dubai accounted for the largest share (2,831) of the new licenses issued in February 2021 followed by Deira (1,960), and Hatta (5). The figures reflect Dubai’s resilience as well as the emirate’s economic competitiveness, including its ability to provide businesses high-growth opportunities in various economic sectors.

According to the legal forms of the licenses issued in February 2021, Sole Establishments accounted for 39% of the total, followed by Limited Liability companies 34%, and Civil Works at 23%. The rest of the legal forms included; One-Person Limited Liability Companies; Branches of companies based in other Emirates; Branches of Free Zone Companies; and Branches of Foreign Companies.

The activities of the new licenses issued during February 2021 included: Project management services, Paints and dyes, Floor and wall tiling, Carpentry and flooring installation, Building services, Plaster works, Plumbing and sanitary, Air-conditioning services, Ventilation and air purification systems, Wallpaper installation, and suspended ceilings and light partitions installation.

Dubai Economy strives to deliver solutions that contribute to enhancing ease of doing business in the emirate and expanding investment and growth, which in turn maintain a sustainable economy. The increase in new licenses also shows the private sector’s growing role as a key partner in Dubai’s economic development as well as the emirate’s constant efforts to provide a supportive environment and infrastructure for local and international businesses.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched ‘Invest in Dubai’ (invest.dubai.ae), a unified digital platform to start a business in Dubai, to consolidate Dubai’s status as a leading global business destination. The ‘Invest in Dubai’ platform offers a unique business set-up experience backed by Dubai’s advanced smart solutions. The largest one-stop-shop platform of its kind, ‘Invest in Dubai’ enables investors to obtain trade licenses and launch their business easily in a matter of minutes.

An integrated portal for doing business in the emirate, ‘Invest in Dubai’ offers users various services, including commercial licensing in which government permits and approvals can be obtained from a centralized platform, eliminating the need to physically visit any service centre. Also offered on the platform are packages and value-added services that support businesses in launching commercial projects. It’s the largest integrated and trusted platform serving over 2,000 businesses in the emirate.

The Business Map, www.dubaibusinessmap.ae, seeks to reflect the economic realities in Dubai by providing vital data on each license category including their numbers and distribution as well as trends on a monthly basis. It also includes an interactive guide explaining the geographic distribution and concentration of major business activities and the rate of urban growth in terms of expanding neighborhoods and business licenses.

News Source: https://www.wam.ae/en/details/1395302917066

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