DED issues record licences in 2016 as improved ease of business promotes investment and expansion
The Department of Economic Development (DED) in Dubai has issued a record number of 26,707 new business licences in 2016 as the improved ease of doing business and increasing competitiveness in the emirate spurred optimism among investors and entrepreneurs.
The results achieved by the Business Registration and Licensing (BRL) sector in DED point to commercial activity in the emirate growing sustainably with further investment and expansion continuing in various business sectors. The number of licenses renewed in 2016 was 107,043 while 20,873 initial approvals were issued and 38,918 trade named were reserved.
Omar Bushahab, CEO of BRL sector, said the year 2016 underlined the effectiveness of DED’s continued efforts towards facilitating business activity in Dubai. "The Department of Economic Development has brought in substantial improvements in customer services in terms of speed and quality and this has enhanced the competitiveness across our branches and outsourced centres, leading to greater happiness and satisfaction among customers."
Average waiting time for customers at DED service centres is seven minutes and 90 per cent of the customers said it was less than seven minutes. Complex transactions do not take more than 30 minutes while regular transactions are completed within 10 minutes and speed transactions within five minutes.
Bushahab said 2017 will see the launch of further initiatives to improve ease of business and meet the needs and aspirations of investors. The new steps are aimed to achieve a quantum leap in the business environment and economic performance of Dubai and they will improve investor confidence further and attract new regional and international enterprises to the emirate.
"The Auto Renewal system introduced under our ‘Hassle-Free’ initiative received 62,115 messages in 2016 and it shows the level of response to such initiatives from our customers," added Bushahab. Under the system customers SMS their license number to DED on the number 6969 to have their licenses renewed following which they will receive a payment authorization in reply. The customer can then pay the fees in any outlet manually or electronically through the link attached to the SMS.
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