Business licenses issued by the Department of Economic Development (DED) in Dubai over the final three months of 2013 was 12 per cent higher than those issued during the same period of 2012 as economic activity and investor confidence remained on an upward curve.
DED issued a total of 4, 573 licenses in the third quarter of 2013 as the tourism sector saw a 29 per cent year-on-year increase in licensing activity with the commercial and professional sectors also witnessing 12 per cent and 11 per cent increase, respectively.
Commercial licenses accounted for the highest share – 73 per cent – of the total licenses issued in Q4 2013 reiterating Dubai’s prominence as a trading hub while the professional sector came second with 25 per cent. The tourism and industrial sectors each accounted for one per cent of the licenses issued in the same period.
“New opportunities and new beginnings have added to the growing economic momentum in Dubai as is evident from the rising number of licenses being issued. More and more investors will step forward as Dubai pushes ahead with adding new economic sectors and enhancing competitiveness as well as ease of doing business,” remarked Saeed Matar Al Marri, Deputy CEO of Business Registration & Licensing (BRL) sector in DED.
Compared to Q4 of 2012, the number of reserved trade names rose by 18 per cent and reached 18,509 while initial approvals rose 19 per cent to reach 8,565 during the final three months of 2013.
The total number of commercial activities licensed in Q4 2013 rose five per cent year-on-year and reached 11,955 with General trade (589 licenses) leading the top ten list. Tiling of floors and walls (882 licenses), Dyes & paints (474 licenses) and Carpentry & flooring (400 licenses) and Sanitary extensions & wares (430) were the leading activities in the General trade category indicating the renewed optimism among those who supply to the construction sector.
A total of 3,003 professional activities were licensed in Q4 2013 with Cleaning services for buildings and residences (223 licenses) leading the list of top ten activities in this category. Licenses for Special-purpose facilities activity (178); Restaurants (141); Electrical repair & extensions (87): Cafes (80) and Transaction follow-up services (57) were the other major professional activities in the list.
In the tourism sector, Inbound tourism stood top with 39 licenses in a total of 64 activities, with Travel and tourism agencies (14); Leased hotel apartments (6) and Hotels (4) coming next. Construction metal parts; Salt packaging and fruit canning; Doors and interiors and Repair of boats & ships were the main activities among the 39 industrial activities licensed in in Q4 2013.
