Half a million licenses issued by the country’s economic development departments

Media In – Abu Dhabi – 5 September 2018 / WAM /

The total number of licenses for economic activities in the UAE rose to about 532 thousand licenses at the end of last August, a growth of 9% compared to the end of 2017, according to the latest statistics released by the economy. The increase in the number of licenses issued reflects the continuation of activity in all sectors which constitute the main sources of the economy of the country, which in turn managed to continue to grow at a good rate despite the slowdown in the economies of many countries of the world. Dubai, Abu Dhabi and Sharjah accounted for 85% of the cumulative total of licenses issued in the country at the end of last August, with 453 thousand licenses, according to figures documented in the National Economic Register run by the ministry. In terms of the number of licenses issued, the Emirate of Dubai ranked first with about 249,000 licenses representing 46.8% of the total licenses issued by all economic development departments in the country. The emirate of Dubai is the first in the ease of doing business in the Arab world, according to the World Bank’s Doing Business report for 2017. In the Emirate of Abu Dhabi, the figures show that the total number of licenses issued by the Department of Economic Development in favor of individual institutions reached 77406 licenses, while the number of limited liability companies amounted to 25460 licenses and 17942 licenses for branches of companies. The Emirate of Abu Dhabi is keen to enhance business by continuing to implement initiatives and projects aimed at continuously developing the business registration system in Abu Dhabi by reducing the procedures, time and cost of doing business in general.