Business | Economy
Commercial sector tops Dubai licences in August
The Dubai Department of Economic Development (DED) issued 1,186 licences in August, according to the latest data.
- Staff Report
- Published: 23:37 September 17, 2008
Dubai: The Dubai Department of Economic Development (DED) issued 1,186 licences in August, according to the latest data.
The majority of these were issued in the commercial sector (995), followed by the professional sector (159), industrial (16) and tourism (16), according to a report prepared by the Economic Affairs division at the DED.
General trade led the list of the top 10 licenced activities with (131) licences issued, followed by watches and accessories (99), paints and dyes (98), floor and wall tiling (94), ready made garments (91), carpentry and floor installation (89).
Limited liability companies (LLCs) topped the list of licences issued, according to legal status with 693 licences issued in August, followed by individual corporations with 406.
The total number of transactions during August was 27,879. Licence renewals topped the list of transactions with 5,979 (21 per cent) followed by trade names with 4,408 (16 per cent) and licences amendments with 4,180 (15 per cent).
The Intlaq scheme, an initiative by the DED to encourage more UAE nationals to set up businesses from home, received strong response with 65 licences issued in August. The scheme's highest growth was recorded in the trade category, with 59 licences issued.
In August, DED issued 16 new licences to branches of foreign firms from China, South Korea, Japan, the Philippines, Germany, Singapore and elsewhere.
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