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Commercial firms dominate DED license applications in first-half 2008

The Dubai Department of Economic Development (DED) issued 7,961 licences for various businesses in the first half of 2008.

  • Staff Report
  • Published: 15:53 July 21, 2008
  • Gulf News

Dubai:The Dubai Department of Economic Development (DED) issued 7,961 licences for various businesses in the first half of 2008.

Majority of the licenses were issued in the commercial sector (6,514), followed by the professional sector (1,232), industrial (112) and tourism (103), according to a comprehensive report prepared by the Economic Affairs Division at the DED.

‘General trade' led the list of the top 10 licensed activities with (864) licences, followed by ‘ready-made garments' (655), ‘watches and accessories' (596), ‘real estate brokerage' (565), ‘perfumes & cosmetics' (558) and ‘paints and dyes' (541).

The Intlaq scheme, an initiative by the DED to encourage more UAE nationals to set up businesses from home, received strong response with 474 licences issued in the first half of 2008, a 48 per cent increase over the same period last year.

The scheme's highest growth was recorded in the trade category, with 394 licenses issued.

‘Limited liability companies' (LLCs) topped the list of issued licences according to legal status with 4,386 licences issued in the first half of 2008, followed by ‘Individual Corporations' with 3,082.

The total number of transactions during the first-half of 2008 reached 198,855. ‘Licence renewal' topped the list of transactions with 41,602 (21 per cent) followed by ‘Licences amendment' with 30,667 (15 per cent) and ‘Commercial permits' with 28,936 (14.5 per cent).

In the first-half of 2008, DED issued 107 new licences to branches of foreign firms from India, China, South Korea, USA, Britain, The British Virgin Islands, Japan and elsewhere.

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