Tuesday, 02 January 2024 12:17 GMT

Soon Dubai Investors Will Get Licence In 17 Seconds Through AI-Revamped Platform


(MENAFN- Khaleej Times)

Investors will soon be able to obtain their licence within 17 seconds through the 'Invest in Dubai ' digital platform following the introduction of Agentic AI technology on the platform, a senior official said on Tuesday.

In an interview with Khaleej Times, Ahmad Khalifa AlQaizi AlFalasi, CEO of Dubai Business Registration and Licensing Corporation (DBLC), said an enhanced version of Invest in Dubai has been introduced at the Gitex Global 2025 exhibition and will be rolled out at the end of 2026.

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“Anyone who logs into Invest in Dubai now can get his/her trade license within a maximum of five minutes. During this Gitex, we are introducing an enhanced version of it, which includes Agentic AI capabilities. Agentic AI is like a super employee working for us, as it can evaluate the application on the spot with perfection."

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"Today, we have an AI to review and check the application. If it is fine, the application is approved. Previously, we had people sitting in the office and waiting for these attachments to review which sometimes took hours to approve. Today, with Agentic IA, it can approve it in 17 seconds. So basically, by the time he uploads the documents, he gets the response,” AlFalasi said.

He added that the system validates the documents for the DBLC to approve the application.

AlFalasi elaborated that the DBLC system is integrated into most local government entities, but there are some special activities where a no objection certificate (NOC) might be required from them to process the licence application. And if the applicant submits that application, AlFalasi said, the system will take care of it immediately to proceed with the application approval process.

Highlighting the benefit of this new technology, he said the department will not require staff just to wait for documents to validate.“It's all been automated. Now the staff is supervising the capabilities of these systems instead of doing manual checks.”

The app's enhancement is part of the Dubai Economic Agenda, D33, to increase economic productivity by 50 per cent through innovation and digital adoption.

A statement issued on Tuesday said the major upgrade to the Invest in Dubai platform will enable investors and businesses to manage the complete licence issuance process digitally, covering corporate structures, legal forms, and branch licences, while eliminating redundancies and minimising paperwork.

The services feature will unify essential permits and approvals from multiple key government bodies into one seamless interface, including those from the Ministry of Human Resources & Emiratisation (MoHRE), Ministry of Foreign Affairs (MoFA), Community Development Authority (CDA), and Dubai Civil Aviation Authority (DCAA), with additional entities set to join to further enhance the integration of government services.

Since its debut in 2021, the Invest in Dubai platform has facilitated 1.3 million transactions and enabled the incorporation of 280,916 new businesses. Business licence issuance through the Invest in Dubai platform has surged nearly six-fold, from 16,584 in 2021 to 95,543 in 2024, with transactions climbing from 31,383 to over 258,000 in the same period.

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