Dubai sees 30% rise in new business licenses

14/04/2010 - Dubai Investment News
Dubai sees 30% rise in new business licenses

Posted by Bob Brunskill

Dubai's Department of Economic Development (DED) saw a 30 per cent increase in the number of new business licenses it issued in the first quarter of 2010 compared to the same period last year.

DED issued a total of 3,584 licences in the first three months of this year. The majority of the licences were issued in the commercial sector, which accounted for 2,752, followed by the professional sector with 749 and tourism with 42.

Within the commercial sector, 'ready-made garments' was the most licensed activity, followed by 'perfumes and cosmetics' and 'general trade'.

Meanwhile, the Intlaq scheme, an initiative by DED to encourage more UAE nationals to set up businesses from their homes, performed strongly with 552 licences issued in the first quarter of the year, a 91 per cent increase on the same period last year.

Sami Al Qamzi, director-general of DED, said: "The quarterly report confirms the success of our initiatives and procedures, and affirms the growing investor interest in undertaking diverse businesses in Dubai."

According to a recent poll by Careertunity.com, more than 50 per cent of firms in the Middle East are planning to expand their workforce in 2010.
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