The number of trade licences issued by the Department of Economic Development, or DED, in May 2012 reached 1,542, an increase of 14 per cent over the same period in 2011. The tourism sector accounted for the highest increase in number of licences at 57 per cent, followed by the professional (19 per cent) and commercial (13 per cent) sectors.
The rise in the number of licences indicates a higher level of interest in commercial and professional activities among businessmen and investors in Dubai. Commercial licences accounted for 73 per cent of the total issued last month, followed by professional (25 per cent), industrial and tourism (one per cent each) licences.
The total number of licences amended in May 2012 was 5,728, a two per cent increase over May 2011, while the total number of business registration and licencing transactions reached 54,286, compared to 44,492 in May 2011, an increase of 22 per cent.
The number of reserved trade names reached 6,010 in May 2012, a 37 per cent increase compared to the same period in 2011, while the number of initial approvals reached 2,733, a 26 per cent increase year-on-year.
The total number of commercial activities licenced in May 2012 was 4,042, with general trade leading the list of the top 10 licenced activities with 174 licences.