Dubai Economy issues 42,640 new licences in 2020

Dubai Economy issues 42,640 new licences in 2020

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Islam News — Dubai’s Department of Economic Development (Dubai Economy) today announced that it issued 42,640 new licences in 2020, an increase of 4% from the 40,891 new licences issued in 2019, as WAM agency reported.

According to a recent report of Dubai Economy’s Business Registration & Licensing (BRL) sector, 64% of the new licences issued in 2020 were professional (27,307), 35% were commercial (14,754) and the rest were distributed among tourism and industrial activities. The latest figures reflect the UAE’s and Dubai’s resilience as well as the emirate’s economic competitiveness, including its ability to provide businesses high-growth opportunities in various economic sectors.

Bur Dubai accounted for the largest share (22,276) of new licences followed by Deira (20,293), and Hatta (71). The top sub-regions were: Al Khabaisi, Al Fahidi, Al Garhoud, Trade Centre 1, Burj Khalifa, Port Saeed, Oud Al Muteena 3, Oud Metha, and Hor Al Anz East.

The figures demonstrate the UAE’s success in maintaining its growth and development momentum and reinforcing its position as a leading global economic and business destination. The increase in new licences 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.