Media ININ Economy We Trust
MEDIA IN, Abu Dhabi, Jan 14 )
The average number of licenses for economic activities registered daily in the UAE was 70 during the first two weeks of 2019, reflecting the high frequency of activity in various economic sectors.
According to the National Economic Register, all UAE emirates registered 985 licenses during 14 days, specifically from 1 January to today, according to official statistics issued by the Ministry of Economy.
As the UAE has become increasingly popular, the total number of licenses issued in the country has increased to 541,344 today, compared to 540,359 at the end of last December.
The continued growth in business is a continuation of last year’s growth, as the number of licenses for economic activities in the UAE grew by almost 5% compared with the total number of licenses issued during 2017.
According to the expectations of many local and international specialized institutions, the real GDP of the country is expected to rise during the year 2019 in terms of the first of its kind since 2016.
During its third review of the country’s economic and financial performance, the UAE Central Bank predicted real GDP growth of 4.2% in 2019, and growth of oil and non-oil sectors by 5.2% and 3.7% respectively, driven by the effects of fiscal stimulus packages and strong fundamentals of the national economy generally.
Despite the fact that all UAE emirates are active in issuing licenses, Abu Dhabi and Dubai hold the top positions. The number of licenses issued by their economic departments accounted for 71% of total licenses issued in the UAE.
According to the economic record, the number of licenses for economic activities in Abu Dhabi and Dubai reached about 380 thousand licenses of the total cumulative number of licenses issued in the country during the year 2018.
