DED issues 7,103 licences during first half of 2007

This is 692 more than the number of licences issued during the same period last year (6411). The licenses were issued in three categories - Commercial, Professional and Industrial.

The majority of licences were issued in the commercial sector (5761), followed by the professional sector (1243) and the industrial (99), according to the comprehensive report prepared by the Economic Affairs Division at the DED.

'General trade' led the list of the top 10 licensed activities in the commercial category with 905 licences issued, followed by 'watches and accessories' with 655, 'ready made garments' with 592, 'gifts' with 531 and 'handbags and leather products' with 473. 'Metal works for buildings' led the list of activities in the industrial category with 13 licences issued, followed by 'smithery and welding workshop' with 12 and 'turnery workshop' with 6.

The Intlaq scheme, an initiative by the Department of Economic Development to encourage more UAE nationals to set up businesses from home, received strong response with 327 licences issued in the first half of 2007, a 57 per cent increase from first half of 2006 (208). The largest growth was recorded in the trade category, with 263 licenses issued.

DED issued 102 new licences to branches of foreign firms in the first half of 2007. Ten licences were issued for branches of companies from Britain. The rest were for 20 different companies from South Korea, Japan, India, Germany and elsewhere.

'The significant number of licences issued to branches of foreign firms reflects the global growth opportunities offered by Dubai. The Government seeks to encourage local and foreign investment in commercial and industrial projects and create the right environment for investors,' said Noura Juma, Director of Business Registration at DED.

'DED launches new services and initiatives with the objective of attracting international companies to set up their regional base in Dubai and thus contribute to achieving higher economic growth,' she added.

Limited liability companies (LLCs) topped the list of issued licences according to legal status, with 3953 licences issued in the first half of 2007 followed by Individual corporations with 2772. The total number of transactions during the first half of 2007 reached 188,490. 'Commercial permits' topped the list of transactions with 41,523 (22 per cent) followed by 'Licence renewal' with 37,379 (19.8 per cent) and 'Licence amendment' with 28,059 (14.9 per cent).