DED issues 1,090 licences in September 2008

The majority of these were issued in the commercial sector (875), followed by the professional sector (184), industrial (17) and tourism (14), 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 (120) licences issued, followed by 'watches and accessories' (88), 'ready made garments' (82), 'sanitary and sewage work' (78), 'paints and dyes' (72) and 'transportation of general materials with heavy vehicles' (72).

'Limited liability companies' (LLCs) topped the list of issued licences according to legal status with 635 licences issued in September, followed by 'Individual Corporations' with 381. The total number of transactions during September 2008 reached 24,659. 'Licence renewal' topped the list of transactions with 5,272 (21%) followed by 'Trade name' with 3,672 (15%) and 'Licences amendment' with 3,578 (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 56 licences issued in September 2008. The scheme's highest growth was recorded in the trade category, with 42 licenses issued.

In September, DED issued 17 new licences to branches of foreign firms from Germany, United Kingdom, Belgium, Spain, Egypt and elsewhere.