Dubai Economy issues 42,640 new licences in 2020

SourceGulf Business

Dubai’s Department of Economic Development (Dubai Economy) said on Tuesday that it had issued 42,640 new licences in 2020, an increase of 4 per cent from the 40,891 new licences it issued in 2019. Last year, 64 per cent of the new licences were professional (27,307), 35 per cent were commercial (14,754) and the rest were within the tourism and industrial sectors, stated a report of Dubai Economy’s Business Registration & Licensing (BRL) division. Bur Dubai accounted for the largest share (22,276) of new licences followed by Deira (20,293), and Hatta (71). The top sub-regions were: Al Khabaisi, Al Fahidi, Al Garhoud, Trade Centre 1, Burj Khalifa, Port Saeed, Oud Al Muteena 3, Oud Metha, and Hor Al Anz East. Also, 346,375 business registration and licensing transactions were completed in 2020, a 3 per cent increase over 2019 (337,752). Apart from new licences, license renewals accounted for 162,762 transactions in 2020, a 15 per cent growth over 2019 (141,788). Auto Renewal via text messages accounted for 92,576 transactions in 2020, a 36.5 per cent growth from 2019 (67,813). The number of Trade Name Reservations reached 51,170, Initial Approvals totalled 40,932, and Commercial Permits reached 10,680. #Dubai’s Department of Economic Development (@Dubai_DED) announces that it issued 42,640 more...