14% jump in Dubai trade licences

The Department of Economic Development (DED) in Dubai registered a 14 per cent increase in the number of trade licences issued last month compared to the same period last year, DED announced on Monday. With a total of 1,542 licences issued in May the tourism sector accounted for the highest increase in the number of licences with 57 per cent followed by professional ones with 19 per cent and commercial, 13 per cent. However, commercial licences which lead the list accounted for 73 per cent of the total followed by professional ones with 25 per cent while industrial and tourism accounted for 1 per cent each. The rise in the number of licences indicates a higher level of interest in commercial and professional activities among businessmen and investors in Dubai.Mohammad Shael Al Saadi, CEO, Business Registration & Licensing (BRL) in DED, told Gulf News: “Last month’s report confirms the success of our initiatives and procedures, and affirms the growing investor interest in engaging in diverse business activities in Dubai. “Such impressive growth in the overall business activity will further boost investor confidence, drive inward investments and strengthen the competitiveness of Dubai’s economy.”The total number of commercial activities licensed in May 2012 was 4,042, with 174 in general trade leading followed by 141 licences for dyes and paints, 138 for tiling of floors and walls, 133 for carpentry and flooring, 132 for sanitary extensions and wares and 128 for installation of air conditioning systems, ventilation and air purification. The total number of business registration and licensing transactions reached 54,286, compared to 44,492 in May 2011, an increase of 22 per cent. In the tourism sector, inbound tourism was the leader with 13 licences, followed by travel agent (7), tourism consultations and entertainment (2) and accredited airline general service agent (one licence). In the industrial activities segment, schools and hospitals furniture, home furniture, office furniture, and Turning workshop led the list of licensed activities with two licenses each followed by Industrial manufacturing of chemical compounds, switches and electrical controls, perfumes, cosmetics, raw plastics, and metal for building construction.from gulfnews.com