UAE: Registration of new establishments on the rise, minister says
Fifty per cent increase in registrations in first four months of 2021 as compared to same period in 2019
There has been a marked increase in the number of registration of new establishments in the first 4 months of 2021, a top official has said.
According to Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation (MoHRE), there has been a 50 per cent increase in registrations this year as compared to the same period in 2019, indicating the continued growth of the labour market and businesses.
The number has increased from 17,701 in 2019 to 26,609 establishments this year, with expectations of reaching 65,000 by the end of 2021.
The continuous growth in the labour market and economic activities are supported by the economic stimulus packages offered by the UAE government and local governments during the past months, Al Hamli stressed.
Despite the Covid pandemic, the UAE has maintained its position as one of the most important labour markets that attract a considerable number of talents, entrepreneurs and investors from the Middle East and all around the world.
The country has adopted a wide range of decisions, and procedures, to provide the necessary support for the labour market and enhance the business environment, as well as provide financial and administrative support packages to mitigate the consequences of the pandemic.
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