Business | General
Commercial sector tops new Dubai licences
The Dubai Department of Economic Development (DED) said on Saturday it issued 1,307 licences for a range of businesses last month
- Staff Report
- Published: 23:31 November 29, 2008
Dubai: The Dubai Department of Economic Development (DED) said on Saturday it issued 1,307 licences for a range of businesses last month
Of these, 1,073 were issued in the commercial sector, followed by 207 in the professional sector, 19 for industrial sectors and eight for tourism businesses.
The business of readymade garments led the list of the top 10 licensed activities with 143 licences, followed by general trade at 139, perfumes and cosmetics at 135, watches and accessories at 129, gifts at 95 and 86 licences for handbags and leather products.
"The government's flexible commercial policy in encouraging businesses has served as a catalyst for economic growth in the emirate and the setting up of new businesses across a wide spectrum of activities. The Business Registration Division at DED constantly reviews the existing procedures and norms in an attempt to simplify rules and regulations," said Mohammad Shael, chief business registration and licensing officer.
Streamlined operations
"The business registration system at the DED has been thoroughly streamlined and made more user-friendly. Investors can set up businesses with the minimum of procedures and paperwork and the DED will assist them in their dealings with other government departments," Shael said.
Limited liability companies (LLCs) topped the list of issued licences according to legal status with 744 licences issued in October, followed by individual corporations with 475.
The total number of transactions during October 2008 reached 28,386.
Licence renewals topped the list of transactions with 6,946 followed by trade names with 4,390 and licences amendment with 4,233.
The Intlaq scheme, an initiative by the DED to encourage more UAE nationals to set up businesses from home, received strong response with 118 licences issued in October, a 168 per cent increase from October 2007.
Last month DED issued 17 licences to branches of foreign firms from South Korea, Britain, France, China, Malaysia, Japan, India and elsewhere.
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