DED issues 1,026 licenses in September
Dubai, October 24, 2007
The Dubai Department of Economic Development (DED) issued 1,026 licenses in September 2007.
The majority of these were issued in the commercial sector (830), followed by the professional sector (171), industrial (18) and tourism (7), according to a comprehensive report prepared by the Economic Affairs Division at the DED.
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 58 licenses issued in September 2007, a 93 per cent increase from September 2006. The largest growth was recorded in the trade category, with 48 licenses issued.
'General trade' led the list of the top 10 licensed activities in the commercial category with 115 licenses issued, followed by 'ready made garments' with 81, 'gifts' with 68 and 'Watches and accessories' with 68.
'Wooden interior design utilities', 'metal construction industry', 'metal ceiling industry', 'metal construction parts industry' and 'metal works industry for buildings' led the list of activities in the industrial category with two licenses issued for each.
Limited liability companies (LLCs) topped the list of issued licenses according to legal status, with 586 licenses issued in September followed by Individual corporations with 377. The total number of transactions during September 2007 reached 25,324.
'License renewal' topped the list of transactions with 5,234 (21 per cent) followed by 'License amendment' with 4,437 (17.5 per cent) and 'Commercial permits' with 3,983 (16 per cent).
In September, DED issued 17 new licenses to branches of foreign firms from the US, South Korea, Japan, Spain, British Virgin Isles, Germany and elsewhere. - TradeArabia News Service