322,560 new economic licenses in the UAE since the beginning of 2019

Abu Dhabi 08-09-2019 / WAM /
The total number of licenses for economic activities in the UAE increased to 572,615, a growth of 6% and an increase of 32,256 in the first eight months of 2019 compared to 540,359 at the end of December 2018.
The significant increase in the number of licenses issued in all emirates, according to data documented by the National Economic Register, reflects the continued activity of the majority of sectors that constitute the main tributary of the national economy, which supports the expectations of the competent authorities in the country to increase growth rates during 2019.
The UAE Central Bank has forecast the country’s real GDP growth of 2.4% in 2019 in its most recent reports earlier.
The UAE and Abu Dhabi accounted for 70.6% of the total number of licenses issued in all emirates by the end of August 2019.
The total number of licenses registered in Abu Dhabi and Dubai reached 404,492, according to the National Economic Register of the Ministry of Economy.
The Emirate of Dubai topped the list with 268,574 licenses and 135,918 in Abu Dhabi at the end of August 2019.
With regard to the legal form of licenses issued in Dubai, the limited liability companies came first with 181989 licenses while the number of licenses of individual establishments reached 78491 licenses and then the limited liability companies “one person” 3935 “license and the number of licenses of branches of foreign companies 2140 licenses and 848 For the branches of the Gulf companies and the rest of the number is distributed to public shareholding companies and private joint stock companies and limited partnership companies.
In the Emirate of Abu Dhabi, the number of licenses for individual establishments reached 86837 licenses, while the number of limited liability companies reached 27590 licenses and about 17779 licenses for branches of companies.
In the Emirate of Sharjah, the total number of licenses issued was 82,825 by the end of August 2019. The number of licenses for individual establishments reached 53,458 licenses and about 23,582 licenses for limited liability.The remaining licenses were distributed to other legal forms of companies.
It should be noted that the National Economic Register is a federal electronic platform developed within the initiatives of government accelerators, and supervised by the Ministry of Economy.
The platform aims to adopt the tools of knowledge economy by providing accurate, comprehensive and immediate data for the economic licenses existing in the UAE.