DED issues 1426 trade licences in July

The Department of Economic Development (DED) has issued 1426 trade licences in July 2012 showing an increase of 9 per cent over the same period last year. The professional sector accounted for the highest increase in number of licences (29 per cent) followed by the commercial (4 per cent ), industry and tourism sectors, compared to July 2011. According to the figures, the increase in licences relates to a higher level of interest in commercial and professional activities among businessmen and investors in Dubai. Commercial licences accounted for 72 per cent of the total licences issued last month, followed by professional (26 per cent), industrial and tourism (1 per cent  each) licences. The total number of licences amended in July 2012 was 5,493, compared to 4,991 in July 2011, an increase of 10 per cent, while the total number of business registration and licensing (BRL) transactions reached 45,933, compared to 41,700 in July 2011, an increase of 10 per cent. The number of reserved trade names reached 5,021 in July 2012, a 22 per cent increase compared to the same period in 2011, while the number of initial approvals reached 2,325, a 19 per cent increase year on year.    From gulftoday