Media ININ Economy We Trust
Media IN DUBAI, 16th June, 2019 (WAM)
According to a report issued by the Department of Economic Development (DED), new business licenses issued in the emirate during the first four months of 2019 increased 35 percent compared to the same period of 2018 hence signalling growing investor confidence in Dubai,
DED issued 9,489 new licences during January-April 2019 as Dubai continued to accelerate in line with the emirate’s strategic plan to evolve into a sustainable economy driven by productivity and innovation.
According to a statement by the Director General, DED has adopted new strategies and innovative approaches in line with the eight principles of the Fifty-Year Charter of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
DED is currently finalising the project to establish the region’s first-of-its-kind virtual commercial city where licences will be granted without requiring residency in Dubai and in accordance with the highest international legal standards.
The emphasis of the principles on launching modern projects that promote trade and civilisation and bring in new investment opportunities is beginning to bear fruit as evident in the number of new licenses issued by the Department of Economic Development and the accelerated growth in the emirate
Data from the Dubai FDI Monitor of the Dubai Investment and Development Agency (Dubai FDI) in DED indicated a total FDI inflow of AED22.2 billion into Dubai as of the end of the first quarter of 2019 compared to AED7.3 billion during the same period of 2018
