DED issues 1,211 licences in April

The majority of these were issued in the commercial sector (960) followed by the professional sector (227), industrial (16) and tourism (8), according to the comprehensive report prepared by the Economic Affairs Division at the DED.

'General trade' led the list of the top ten licensed activities with 151 licences issued, followed by 'ready made garments' with 97, 'watches and accessories' with 94, 'textiles and fabrics' with 80, 'gifts' with 79 and 'real estate brokers' with 77.

"The significant number of commercial licences issued reflects the activity witnessed by this sector and the high level of local and foreign investor interest in the emirate," said Noura Juma, Director of the Business Registration Division at the DED. The commercial sector represents 79 per cent of the total number of licences issued in April, she added.

Limited liability companies (LLCs) topped the list of issued licences according to legal status with 634 licences issued in April followed by Individual corporations with 497. The total number of transactions during April 2007 reached 32,869. 'Commercial permits' topped the list of transactions with 7,432 (22.6 per cent) followed by 'Licence renewal' with 6,651 (20.2 per cent) and 'Licence amendment' with 4,587 (14 per cent.)

The Intlaq scheme, an initiative by the Department of Economic Development to encourage more UAE nationals to set up businesses from home, also received strong response with 70 licences issued in April 2007, a 63 per cent increase from April 2006. Of these, 56 were issued in the trade sector, which recorded the largest growth.

DED issued 16 new licences to branches of foreign firms in April 2007. These were for companies from South Korea (2 licences), India, Indonesia, Italy, Spain, Britain, Isle of Man and others.