Wednesday, May 12, 2021

Dubai Economy records 132% increase in DED Trader licences issued during 2020

Dubai Economy on Sunday said that it recorded a strong 132 per cent growth in DED Trader Licences last year despite the challenges posed by the Covid-19 pandemic.

In a statement, Dubai Economy said that the DED Trader licence registered strong interest with online business and e-commerce gaining momentum as it issued 5,799 licences last year compared to 2,500 in 2019.

The DED Trader licence, launched by the Business Registration & Licensing (BRL) sector of Dubai Economy (DED) to licence freelancers at their place of residence in Dubai and enable start-ups to conduct business activities online and across social networking accounts, has seen overwhelming response with 9,949 licences issued since its launch in 2017 till end of 2020. Of these, 57 per cent have been issued to women (5,704).

“This reflects Dubai Economy’s focus on promoting e-commerce and the competitiveness of Dubai’s economy, as well as its commitment to realising the vision of the government to drive digital transformation and build awareness about e-platforms that facilitate commercial activities,” according to the Dubai Economy statement.

The report issued by the BRL sector showed that ‘Marketing Services Via Social Media’ topped the list of activities of licences until the end of 2020 followed by Perfumes & Cosmetics Trading; Portal; Sweets & Candies Preparing; Cafeteria; Marketing Management; Social Media Applications Development & Management; Readymade Garments Trading and Ladies’ Garments Trading. The total number of DED Trader licence groups is 86.

Shailesh Dash, financier and entrepreneur, said the DED Trader Licence is one of the key initiatives launched by Dubai Economy to help promote small and medium entrepreneurs, freelancers and start-up owners to establish their base in one of the safest and economically stable cities of the world.

“This is a very good initiative of Dubai Economy to promote e-commerce and the competitiveness of the economy. It will help drive digital transformation and build awareness about e-platforms that facilitate commercial activities in the emirate,” he said.

Nazim Munshi, director at Enterprise House, said DED and Dubai government has always tried to recognise the pulse of business and the entrepreneurs in UAE.

“DED Trader licence was one such initiate made by DED to promote e-commerce and SME businesses. The results of this initiative have been fantastic which can be witnessed by the 132 per cent growth,” Munshi told Khaleej Times.

Through DED Trader licence, Dubai Economy seeks to regulate and enhance the ease of doing business electronically, find a platform that supports and develops trade as well as connect customers with traders. The licensee cannot open a shop/store but can avail of three visas if the ownership is 100 per cent Emirati and legal liability falls under the licence holder.

“Ease of doing business and low cost of setup and maintenance are the key factors which are expected by the startup investors and DED has come up their expectations,” Munshi said.

The DED Trader licence is issued electronically by visiting dedtrader.ae and following simple steps; create username and password; enter address details, and social media accounts for the project/business; select the activity and trade name and finally pay and receive the licence electronically.

The benefits of getting a DED Trader licence include getting Dubai Chamber membership for commercial activities, benefitting from bank facilities; getting Customs Client Code, which facilitates import and export via dubaitrade.ae; temporary employment services; participation in exhibitions & conferences and training workshop; displaying of products in consumer points of sale and providing work space.

Last year, the BRL sector organised several virtual awareness workshops on how to conduct businesses and other related subjects, to a great number of freelancers and startups.

 

Copyright © 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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