UAE In-Focus – Dubai consultancy sets up 200 new companies; New Dubai Chambers formation to widen crypto adoption

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UAE
  • Date: 09-Aug-2022
  • Source: Arab News
  • Sector: Economy
  • Country: UAE
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UAE In-Focus – Dubai consultancy sets up 200 new companies; New Dubai Chambers formation to widen crypto adoption

RIYADH: Dubai business setup company AA Associate LLC capped a 5 million dirham ($1.3 million) turnover in a single month in July, reflecting UAE’s record growth post-COVID-19. Over 200 Freezone licenses were issued in July, which affected this result, Khaleej Times reported. “No company in Dubai has achieved such numbers in just one month,” said Robin Philip, the founder, and director of AA Associate. Sharjah Media Free Zone awarded the Dubai consultancy the title of ‘Highest Performing Channel Partner for 2021’ earlier this year for setting up over 2,500 companies across the UAE. In the first half of 2022, Dubai issued 45,653 new business licenses, a 25 percent increase on the same period last year, according to figures released by the Department of Economy and Tourism. As part of its efforts to develop digital business infrastructure and support the growth of digital companies in Dubai, the Dubai Chamber of Digital Economy announced the formation of the Dubai Digital Assets Business Group, according to a Dubai Media Office statement. The new business group aims to promote the digital asset industry in Dubai, improve transparency through market intelligence, support the interests and growth of digital asset companies, and foster cross-border cooperation, the