Media ININ Economy We Trust
Media IN DUBAI, 17th June, 2019 (WAM)
The Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED), Dubai, issued 2,599 new licenses during May 2019, a growth of 50 per cent compared to May 2018 (1,736).
The new licenses created 8,348 jobs in the labour market. Among the new licenses issued, 54.7 per cent were professional, 42.7 per cent commercial, 1.8 per cent related to tourism and 0.8 per cent industry.
The report showed that License Renewal accounted for 11,133 transactions during May 2019, while 5,315 transactions were related to Auto Renewal via text messages, a 48% of total transactions. During the month of May 2019, the number of Trade Name Reservation was 3,676, while the number of Initial Approvals reached 3,086.
BRL also issued 187 instant licenses, which is issued in a single step without the need for either the MOA (Memorandum of Association) or an existing location for the first year only, while the number of DED Trader licenses during May 2019 reached 144 licenses.
The report also showed that the top nationalities who secured licenses in May 2019 were: Bangladesh followed by India, Pakistan, Egypt, Britain, China, Saudi Arabia, Jordan, The Philippines and Lebanon.
