“540359” Number of licenses for economic activities in the UAE by the end of 2018

MEDIA IN, Abu Dhabi, January 2, 2019 (WAM)
The total number of licenses for economic activities in the UAE increased to 540,359 thousand licenses at the end of December 2018, an increase of 8359 licenses and a growth rate of 1.6% compared with the total number of licenses issued at the end of August of the same year.
The steady growth of export licenses in the last period is a continuation of the upward trend in economic activity across the UAE, which will support the UAE’s GDP growth in 2018-2019.
According to the latest forecast by the UAE Central Bank, real GDP is expected to grow 2.4%, the highest since 2016.
In return for the activity of licensing activities for economic activities, the licenses registered in Abu Dhabi and Dubai accounted for 70.2% of the total number of licenses issued in all emirates by the end of December of 2018.
The total number of licenses registered in the UAE was 37,975, according to the National Economic Register of the Ministry of Economy.
While the total number of licenses registered in the Emirate of Dubai 253580 license, the number reached in Abu Dhabi 126095 license at the end of December 2018.
It is clear from the previous figures that the period from August to the end of December of 2018 witnessed an increase in the number of licenses registered in Dubai by 1951 license, while the number in Abu Dhabi increased by 1436 licenses.
In the legal form of licenses issued in Dubai, limited liability companies came first with 17,333 companies, followed by individual establishments with 73271 licenses, then limited liability companies (2711), and foreign licenses (2146 licenses and 894 branches). Gulf companies and the rest of the number is distributed to public shareholding companies and small joint stock companies.
In the Emirate of Abu Dhabi, the number of licenses of individual establishments reached 79458 licenses and the number of limited liability companies reached 26050 licenses and 17639 licenses for branches of companies.
In the Emirate of Sharjah, the total number of licenses issued reached 81235 licenses at the end of December 2018, an increase of 481 compared with August of the same year. The number of licenses of individual establishments reached 52,249 licenses and 23,284 licenses for the same limited liability. The rest of the licenses are distributed to other legal forms of companies