DED stays robust in ’12

Strong licencing activity in Dubai reflects stability and growth across key economic sectors as the emirate recorded a significant 16 per cent year-on-year growth in licences issued during 2012, mainly in the tourism sector.

By (Staff Report)

Published: Sun 17 Feb 2013, 10:59 PM

Last updated: Sat 4 Apr 2015, 9:38 AM

The Department of Economic Development, or DED, on Saturday announced that the department issued 16,688 business licences in 2012, compared to 14,430 licences issued in 2011.

The tourism sector, at 56 per cent, accounted for the major share of licences in 2012 followed by the professional (21 per cent) commercial (14 per cent) and industrial (13 per cent) sectors compared to 2011.

“Confidence in Dubai is rising with the emirate emphasising on overall competitiveness and sustained investment in infrastructure producing rich returns. New project pipelines and growing links to new markets are attracting more investors who are leveraging the various business set up and growth options in Dubai,” DED director-general Sami Al Qamzi said in a statement to Khaleej Times.

Abu Dhabi issues 7,762 new commercial licences in 2012

The Abu Dhabi Department of Economic Development, or Added, issued 7,762 new commercial licences in 2012, bringing the total number of active business licences registered in the emirate to 87,329.

According to the annual statistical report on commercial activities that was released by the Added, the total number of commercial licences transactions processed last year was 181,106. Abu Dhabi accounted for 123,838 of these, followed by Al Ain (13,763) and the Western Region (43,505).

Mohammed Munif Al Mansouri, acting executive director of the Commercial Affairs Sector, said that through its strategy and future plans, the Added was able to develop commercial and business activity in various vital sectors, stating that the continuous increase in commercial licencing was indicative of the steady progress and growth of the Abu Dhabi economy.

He emphasised that the Added is determined to strengthen the emirate’s business environment by encouraging commercial activities to achieve the desired economic diversification and enhance the emirate’s competitiveness as an attractive haven for investments.

Mohammed Shaal Al Saadi, chief executive officer of the Business Registration and Licencing sector at the DED, added: “The business registration and licencing activity in 2012 mirrored an increasingly positive investor sentiment and expectations. While existing businesses in Dubai are venturing further out and spreading their wings, a growing number of investors are also sensing the ideal conditions to step forward.”

The total number of amended licences in 2012 was 67,056, up 14 per cent from 58,881 in 2011 while the total number of renewed licences grew three per cent to 101,766 against 98,981 during the previous year. The total number of transactions rose 16 per cent to 589,721 in 2012 from 506,792 in 2011.

The total number of commercial permits issued in 2012 was 29,266, a 21 per cent increase over 2011, while the total number of reserved trade names reached 65,089, a 24 per cent increase. The number of licences issued to companies according to legal status and for investing in Dubai reached 16,688 in 2012 compared to 14,430 in 2011. Limited liability companies topped the list of companies at 10,673 and a growth rate of 18 per cent from 2011, followed by sole proprietorships at 5,048, which grew 14 per cent compared to 2011. There was also a 100 per cent increase in partnership firms, from six companies to 12. Among the 81 licences issued to foreign investors in 2012, the top 10 nationalities accounted for 54. Kuwaiti nationals topped the list with 11 licences in 2012, followed by US investors (nine), Indians (eight) and Saudis (five).

More news from Local Business