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 Editorial) 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 licenss 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.

 


MENAFN Press




  MENA News Headlines
 Mar 28 2017 - Kan Yama Kan Inaugurates a 2000-book School Library in IndiaMENAFN Press
(MENAFN Editorial)The Kan Yama Kan (Once Upon a Time) initiative, a subsidiary of the UAE Board on Books for Young People (UAEBBY), has recently inaugurated a 2,000-book library at the Naushera Mewat ...

 Mar 28 2017 - KIB’s showjumping team earns new accoladeMENAFN Press
(MENAFN Editorial)The Kuwait International Bank (KIB) showjumping team recently earned a new impressive accolade, adding to its growing roster of achievements, with jockey Ahmad Al-Mudaheka nabbing ...

 Mar 28 2017 - Munich’s Bayerischer Hof Hotel to spend $11 million to increase share of projected 3.6 million GCC visitors to Germany by 2030MENAFN Press
(MENAFN Editorial)The historic Bayerischer Hof Hotel in Munich is to spend over EURO12 million ($11 million) on a renovation project aimed at attracting more GCC visitors. The multi award-winning ...

 Mar 28 2017 - Bank Muscat - Ratings Lowered in line with Recent Oman Sovereign Rating Action Outlook Revised to StableMENAFN Press
(MENAFN Editorial) 28th March 2017 Bank Muscat’s Ratings Lowered in line with Recent Oman Sovereign Rating Action; Outlook Revised to ‘Stable’ Capital Intelligence Ratings (CI Ratings or CI), ...

 Mar 28 2017 - H.E. Alfadhel Mohamed Al Harthy, Secretary General to the Cabinet inaugurates the 1st Edition of Smart City Summit OmanMENAFN Press
(MENAFN Editorial)The 1st Edition of the Smart City Summit Oman was inaugurated by H.E. Alfadhel Mohamed Al Harthy, Secretary General to the Cabinet at the Oman Convention & Exhibition Centre on 28th ...

 Mar 28 2017 - Sharjah Officially Launches its Childhood Protection NetworkMENAFN Press
(MENAFN Editorial)As part of its overall development strategy, and its efforts to provide a safe life, excellent childcare and to protect children’s rights, the Emirate of Sharjah launched the ...

 Mar 28 2017 - Al Mazaya Holding endorses 8 percent of share nominal value in cash for Shareholders in 2016MENAFN Press
(MENAFN Editorial)Al Mazaya Holding’s Ordinary General Assembly convened on Tuesday, March 28 2017, at Al Mazaya Tower, strategically located in Al Mirqab Area in Kuwait City, one of the company’s ...

 Mar 28 2017 - Sharjah to Showcase its Leading Integrated Business Environment at AIM 2017MENAFN Press
(MENAFN Editorial)Sharjah FDI Office (Invest in Sharjah) - the promotional arm of Sharjah Investment and Development Authority (Shurooq) - has announced that it will participate at the seventh ...

 Mar 28 2017 - In the presence of HH Sheikh Ahmed bin Saeed Al Maktoum, H.E. Essa Kazim, Governor of DIFC, welcomes President of the Republic of Kazakhstan and distinguished delegationMENAFN Press
(MENAFN Editorial)His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC), earlier this week welcomed His Excellency Nursultan Nazarbayev, the President of the Republic of ...

 Mar 28 2017 - City Centre Rotana Doha celebrates Vietnamese Food Week with Iron Chef Michael BaoMENAFN Press
(MENAFN Editorial)Teatro, City Centre Rotana’s specialty signature restaurant, in partnership with Emirates Airline will host a Vietnamese Food Week featuring award winning Iron Chef Michael Bao ...

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

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