Number of licences issued by DED grows by 17 per cent in 2010 to 13,817
- Highlights the stability and growth of the key economic sectors in the emirate
“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 Mr Sami Al Qamzi, Director General, DED. “One of the key pillars of the Dubai economy has been the performance of the traditional sectors such as tourism, industry and trade, and their growth, as indicated by the number of new licences issues, underscores the strong economic fundamentals of the Emirate.”
He added: “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 number of licenses issued to companies according to legal status and for investing in Dubai reached 14,348 – a growth of 22% over 2009. Limited liability companies topped the list of companies at 7,258 and a growth rate of 25%, followed by individual institutions 5,955 (21%). 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 strong performance of the economy, as highlighted by the rise in number of businesses, was led by the visionary policies of the government, which accelerated the growth of the economy. The ideal investment climate in Dubai will serve to further attract investors,” said Mr Khalid Al Kassim, Deputy Director General for Services and operations, DED.
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%). The permits for promotional campaigns and trade shows recorded impressive growth rates of 30% each followed by Special Promotions recording 29 per cent growth in 2010 compared to 2009.
The average monthly visits of customers was 4214 to DED’s main premises and 4511 to Al Tawar Centre branch. The average turnaround time for licensing procedures transactions at DED's main premises was 7.08 minutes in 2010 compared with 8.22 minutes in 2009, and 5.54 minutes and 5.30 minutes respectively for 2010 and 2009 at the Al Tawar Centre.
The total number of field inspection visits by DED's Commercial Compliance and Consumer Protection Division reached 68,458 in 2010, and the number of fines and warnings issued were 15,603.