Dubai's Department of Economic Development (DED) recorded a 17 per cent growth in the number of licences issued in 2010, compared to 2009, with 13,817 licences issued in all.

The professional sector accounted for most number of licences at 20 per cent followed by the commercial sector (17 per cent), industry (12 per cent), and tourism (10 per cent).

“The growth in the number of licences issued by DED highlights the robust performance of the economy in 2010, as Dubai entered the next level of growth,” said Sami Al Qamzi, director general, DED.

“This impressive growth in the overall business environment will further boost investor confidence, drive inward investments and strengthen the competitiveness of Dubai’s economy.”

The total number of amended liceses in 2010 was 41,969, a 5 per cent increase over 2009. The majority of amended licenses was issued in the professional sector (11 per cent), followed by the commercial sector (5 per cent), and industry (1 per cent). The total number of transactions in 2010 reached 237,795 compared to 189,259 in 2009, a 26 per cent increase.

The number of licenses issued to companies according to legal status and for investing in Dubai reached 14,348 – a growth of 22 per cent over 2009. Limited liability companies topped the list of companies at 7,258 and a growth rate of 25 per cent, followed by individual institutions 5,955 (21 per cent). Some 107 licences were issued to branches of foreign companies.

The Intlaq scheme, an initiative by DED to encourage more UAE nationals to set up businesses from home, recorded strong performance with 1,793 licences issued in 2010, a 6 per cent increase compared to 2009. The largest growth was recorded in the trade category, at 9 per cent.

The total number of commercial permits reached 12,042, a 35 per cent increase compared to 2009. The permits issued for the Dubai Shopping Festival topped the list with 3,217 licences (6 per cent). The permits for promotional campaigns and trade shows recorded impressive growth rates of 30 per cent each followed by special promotions recording 29 per cent growth in 2010 compared to 2009.-TradeArabia News Service