By Staff writer
Department of Economic Development says increase shows Dubai remains attractive destination for firms despite cheap oil
The Department of Economic Development (DED) in Dubai issued 22,691 business licences in 2015, an increase of 17.4 percent compared the total number of licenses issued in 2014.
The government body said the increase is a "clear indication" that Dubai remains an attractive destination for companies and investors due to robust economic activity prevailing in key economic sectors in the emirate.
The latest figures also represent a 75 percent increase in new licences issued between 2010 and 2015, at an annual average of 15 percent.
A total of 17,131 commercial licences were issued last year – up 16.3 percent - while there was an increase of 9.2 percent in the number of tourism licences (250) and 8 percent in the number of professional licences (5,015).
The industrial sector also saw a 10.5 percent increase in licences issued, DED said in a statement.
It added that commercial licences accounted for 75.5 percent of the total licences issued in 2015.
Omar Bushahab, CEO of Business Registration & Licensing (BRL) sector in DED said: “The increased number of licences issued in 2015 reflects the continued growth in vital economic sectors in Dubai as well as improved confidence among investors and businessmen about doing business in Dubai.
"It also proves Dubai has evolved to guarantee sustainable growth for businesses and retain its position as a competitive business hub.”
He added that last year the number of renewed licences (102,807) increased 7.8 percent while the number of amended licences (94,942) rose 64.8 percent.