Tuesday, September 21, 2021

Dubai’s business licensing activity exceeds pre-pandemic levels

@DXBMediaOffice/ Twitter

A total of 31,000 business licences were issued in Dubai during the first six months of 2021.

That’s a growth of 77 per cent compared to the same period in 2020 when 17,478 licences were issued.

The record growth can be attributed largely to measures taken to ensure business continuity and further simplify government procedures for businesses.

“The emirate is recovering rapidly as a preferred global business and investment destination,” said His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai.

Sheikh Hamdan added that the government’s rapid response measures and decisive adaptive changes in the face of COVID-19 have enabled Dubai to successfully contain the pandemic and maintain its robust economic growth.

His Highness’s statements came during the launch of the half-yearly report on business movement by the Business Registration and Licensing (BRL) sector of Dubai Economy, which showed licensing activity surpassing pre-pandemic levels.

The first half of the year saw the entry of 246 new investment firms and the establishment of 12 new holding companies.

Meanwhile, the ‘Invest in Dubai’ platform attracted 10,591 foreign investors from 117 nationalities.

At 37 per cent, youth aged 26-35 account for the largest investor group.

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