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The Department of Economic Development (DED) issued a total of issued 4,459 licences during the third quarter of 2013 achieving 20 per cent increase.
Comparing to the same period last year, the department issues 3,723 licences, attributing this increase to the investors? strong confidence in Dubai market.
The tourism sector saw a 42 per cent increase in the number of licenses, the highest among all sectors during Q3 2013 compared to the same period in 2012, while the commercial sector accounted for a 21 per cent rise, followed by the professional sector at 17 per cent and industrial at four per cent.
?Confidence in Dubai is on an upswing with the emirate emphasizing on overall competitiveness and sustained investment in infrastructure. While existing businesses in Dubai are venturing further out and spreading their wings, a growing number of investors are also sensing the ideal conditions to step forward,? said Saeed Matar Al Merri, Deputy CEO of Business Registration & Licensing (BRL) sector in DED.