DED business licences rise 12% on robust Q3 activities

Economic activities and investor confidence remained on a robust path as business licences issued by the Department of Economic Development (DED) in Dubai recorded a year-on-year 12 per cent growth during the last quarter of 2013.

The DED issued a total of 4,573 licences in the last quarter of 2013. The tourism sector witnessed a 29 per cent year-on-year increase in licensing activity, while the commercial and professional sectors also recorded a growth of 12 per cent and 11 per cent, respectively. Commercial licences accounted for the highest share (73 per cent) of the total licences issued in the fourth quarter of 2013, reiterating Dubai?s prominence as a trading hub while the professional sector came second with 25 per cent. The tourism and industrial sectors each accounted for one per cent of the licences issued in the same period.

?New opportunities and new beginnings have added to the growing economic momentum in Dubai as is evident from the rising number of licences being issued. More and more investors will step forward as Dubai pushes ahead with adding new economic sectors and enhancing competitiveness as well as ease of doing business,? remarked Saeed Matar Al Marri, deputy chief executive officer of the business registration and licensing (BRL) sector at the DED.

via Business – DED business licences rise 12% on robust Q3 activities.