DED issues 1,186 licences in August 2008

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The majority of these were issued in the commercial sector (995), followed by the professional sector (159), industrial (16) and tourism (16), according to a comprehensive report prepared by the Economic Affairs Division at the DED.

'General trade' led the list of the top 10 licensed activities with (131) licences issued, followed by 'watches and accessories' (99), 'paints and dyes' (98), 'floor and wall tiling' (94), 'ready made garments' (91), 'carpenting and floor installation' (89).

'Limited liability companies' (LLCs) topped the list of issued licences according to legal status with 693 licences issued in August, followed by 'Individual Corporations' with 406. The total number of transactions during August 2008 reached 27,879. 'Licence renewal' topped the list of transactions with 5,979 (21%) followed by 'Trade name' with 4,408 (16%) and 'Licences amendment' with 4,180 (15%).

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 65 licences issued in August 2008. The scheme's highest growth was recorded in the trade category, with 59 licenses issued.

In August, DED issued 16 new licences to branches of foreign firms from China, South Korea, Japan, The Philippines, Germany, Singapore and elsewhere.