DED issues 21% more licences in H1 2014

Dubai continued to attract new companies as the Department of Economic Development (DED) in Dubai announced that the number of licences issued in the first half of 2014 rose 17 per cent to 5,786.

The number of trade licences increased 21 per cent to 4,296 in H1 2014; while 71 new licences were issued for tourism companies – registering an increase of 65 per cent.

Industrial licences also rose 38 per cent to 88 in H1 while 1,331 professional licences were issued during the period, an increase of two per cent.

The figures show that the emirate’s tourism, industrial and commercial sectors are witnessing strong growth with more companies setting up offices here.

It said the number of trade licences issued in the second quarter of 2014 made up 70 per cent of the total followed by professional licences (23%), and industrial licences and tourism (2%) and (1%), respectively.

DED said it recorded 152,039 transactions during Q2 2014, renewed 31,298 licences and amended 22,701.

Mohammed Shael, Executive Director of Licensing and Registration at the DED, said the growth rate remained steady at all the major sectors which are vital are for the emirate of Dubai.

He expects Dubai will see record number of companies entering the emirate this year.

"We will continue the efforts in overcoming the obstacles and facilitating mechanism for doing business in various fields, as well as launching initiatives to better serve businessmen and investors, thereby raising the level of confidence among investors and Dubai's competitiveness at various levels,” he said.
 

Follow Emirates 24|7 on Google News.