The UAE Ministry of Economy revealed that the total number of registered commercial agencies in the country reached 5,154 by the end of last year, compared with 4,711 agencies in 2013, translating into 9.4 per cent growth.
The ministry adds that 443 new commercial agencies were registered, while 194 agencies were cancelled in 2014, UAE-based Aliqtisadi reports.
The ministry adds that Abu Dhabi took the lead in registering new agencies with 287 commercial agencies.
British commercial agencies acquired the biggest stake with 829 agencies, which represent 16.6 per cent of the total number of agencies.
Commercial Agencies Managing Director in the ministry, Najib Malallah Al Awadi, reveals that the infrastructure sector, which includes engineering and mechanical equipment, as well as water and sanitation desalination devices, has acquired 1,490 commercial agencies, followed by the fire extinguishing and safety equipment sector with 669 commercial agencies and then the medical equipment sector with 590 commercial agencies.
Al Awadi points out that the commercial agencies sector transferred to Smart services last year with the launch of Smart apps.
It is worth mentioning that the number of registered commercial agencies in UAE from 2008 until 2012 reached around 1,785, which represents 37.3 per cent of the total registered agencies in the UAE since 1982.