Posted by Neil King
Dubai's Department of Economic Development (DED) issued 1,369 business licences in May 2010 - a 63 per cent increase on the same month last year.
According to figures from the body, most licences were issued in the commercial sector with 1,024, followed by the professional sector with 310 and industry with 27, WAM News Agency reported.
Ali Ibrahim, deputy director-general for economic sector development at DED, said the number of licences issued was an indicator of the robust economic performance of Dubai.
"The licensed activities cover all aspects of the economy, highlighting the focus of DED to work towards strengthening all key economic sectors," he added. "The figures also highlight the further growth of small and medium-sized enterprises, which are regarded as a key pillar of the economy."
DED's data also showed that the Intlaq scheme, an initiative to encourage more UAE nationals to set up their own businesses, had performed strongly with 206 licences issued under the programme in May 2010, up 57 per cent on the same month last year.
Meanwhile, it was reported earlier this week that Dubai World Trade Centre venues saw a 12 per cent annual growth in exhibition and conference visitors last year.