Dubai issues 24,662 new business licenses in Q1 2022

Dubai issues 24,662 new business licenses in Q1 2022

Business registration and licensing transactions grew by 36% during Q1 2022, reflecting Dubai’s growing status as a hub for start-ups and investors worldwide

Aerial view of the Sheikh Zayed Road. Analysts and economic experts said the positive growth reflects the resilience of the economy and underlines the role of the private sector as a key partner in driving growth of the emirate. — File photo

Published: Sun 10 Apr 2022, 3:21 PM

Dubai recorded strong double-digit growth in new business licences during the first quarter of 2022 as the economic activities resumed and attracted investors across the globe, says a report.

The emirate, which proved its economic resilience during the pandemic, issued 24,662 new business licences during the January-March quarter, reflecting a 58 per cent year-on-year growth over the same quarter last year.

The report, developed by the DET’s Business Registration and Licensing (BRL) sector of the Department of Economy and Tourism (DET) in Dubai, said the emirate issued 15,580 licenses during the first quarter of 2021.

Analysts and economic experts said the positive growth reflects the resilience of the economy and underlines the role of the private sector as a key partner in driving growth of the emirate.

Atik Munshi, managing partner, FinExpertiza UAE, said Dubai