Business | Economy

Commercial sector dominates in Dubai

The Dubai Department of Economic Development (DED) issued 7,961 licences for various businesses in the first-half of 2008, the department said in a statement on Monday.

  • Staff Report
  • Published: 00:07 July 22, 2008
  • Gulf News

Dubai: The Dubai Department of Economic Development (DED) issued 7,961 licences for various businesses in the first-half of 2008, the department said in a statement on Monday.

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

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

The Intlaq scheme, an initiative by the Department of Economic Development 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.

Total 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.

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