In a clear sign of booming business activity in Dubai, the number of trade licenses issued by Dubai’s Department of Economic Development (DED) during the first three months of 2012 reached 4,343, registering an increase of 27 per cent over the same period in 2011.
The growth in new trade licences was led by the emirate’s tourism sector, which accounted for the highest increase in number of licenses (213 per cent), followed by the industrial (71 per cent), commercial and professional (26 per cent each) sectors, compared to the first quarter of 2011, the DED said in a statement today.
Commercial licenses accounted for 74 per cent of the total licenses issued in the first three months of 2012, followed by professional (23 per cent), industrial (2 per cent) and tourism (1 per cent) licenses, it said in the statement.
According to DED, the figures demonstrate a higher level of interest in commercial and professional activities among businessmen and investors in Dubai.
Mohammed Shael Al Saadi, CEO, Business Registration & Licensing (BRL) in DED, said: “Such impressive growth in the overall business activity will further boost investor confidence, drive inward investments and strengthen the competitiveness of Dubai’s economy.”
Al Saadi added: “DED provides a varied and integrated bouquet of services to ensure time and cost savings for clients. These services are tailored to meet all their requirements efficiently. The quarterly report confirms the success of our initiatives and procedures, and affirms the growing investor interest in engaging in diverse business activities in Dubai.”
The total number of licenses renewed in Q1 of 2012 was 25,382, a 3 per cent decrease over the same period in 2011, while amended licenses showed a 21 per cent increase. The total number of BRL transactions reached 144,840, compared to 124,037 during the same period in 2011, a 17 per cent increase.
The number of trade names reserved during the first three months of the current year reached 17,565, a 44 per cent increase compared to the same period in 2011, while the number of initial approvals reached 7,735, a 36 per cent increase over the 5,701 recorded in Q1 of 2011.
The total number of commercial activities licensed reached 4,634, with ‘General trade’ leading the list of the top 10 licensed activities in the commercial category with 195 licences issued in Q1 of 2012, followed by Dyes & paints (191 licenses), Tiling of floors and walls (188), and Carpentry and flooring (185).
The number of professional activities licensed in Q1 of 2011 reached 1,109. ‘Residences and building cleaning services’ led the list of the top 10 licensed activities in this category with 135 licences, followed by ‘Restaurants’ (43), ‘Wiring repair and electrical installation’ (42), ‘Sewing and female embroidery’ (39), ‘Sewing women’s clothes’ (38), and ‘Sewing women’s gowns’ (31).
In the tourism sector, ‘Inbound tourism’ was the leader with 17 licenses, followed by ‘Travel agents’ (6) ‘Hotel management’ (3), ‘Accredited airline general service agent’ and ‘Leasing of hotel apartments’ (one licence each).
“The licensing activity in tourism sector reflects the substantial growth in this sector, resulting from the vision and strategies of our leadership aimed at making Dubai a destination of choice for tourists and visitors from all over the world. It also underlines the important role played by the retail sector and the presence of varied shopping centres across Dubai, in addition to the security, stability and safety that distinguish the emirate,” stated Al Saadi.
In the industrial activities segment, ‘Blacksmithing and welding workshops’ led the list of the top 10 licensed activities with three licences, followed by Furniture for schools and hospitals, Assembly of cars, Canning and packaged fruits, Manufacture of coil aluminum foil, Assembly of electronic devices, Metal for building construction, Plastic for buildings, Manufacturing of napkins and paper towels and Liquid battery industry, with one license each within the total industrial activities (28).
Al Saadi said: “The industrial sector in the UAE receives significant attention from our leaders who seeks to attract heavy and medium industries and encourage them to set up units jointly with local businesses. The UAE industrial production has proved to be capable of competing globally.”