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Mon 23 Sep 2019 02:10 PM

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New Dubai business licences create over 8,100 jobs in August

Bangladeshis, Indians and Pakistanis are the leading recipients of business licences in Dubai during August

New Dubai business licences create over 8,100 jobs in August
A total of 2,650 new business licences were issued in Dubai in August.

A total of 2,650 new business licences were issued in Dubai in August in a sign of continuing investor confidence in the emirate.

The Department of Economic Development (DED) said 65.6 percent of the new licences were professional, 32.2 percent commercial, 1.7 percent related to tourism and 0.5 percent industry, adding that they created 8,187 jobs in the labour market.

It revealed that that the top nationalities who secured licences in August were Bangladeshis, Indians, Pakistanis, Egyptians, Brits, Chinese, Saudis, Jordanians, Sudanese and the Americans.

It added that real estate, leasing and business services accounted for 43.9 percent of the new licences, followed by trade and repair services (26.7 percent), community and personal services (8.9 percent), building and construction (7.5 percent), transport, storage and communications (4.5 percent) and hotels (3.4 percent).

The Business Map digital platform of DED saw 21,249 business registration and licensing transactions being completed during August.

Trade name reservation accounted for 3,452 transactions, while the number of initial approvals reached 2,954 and commercial permits totalled 1,023.

The report also showed that licence renewal accounted for 8,646 transactions in August while Dubai also issued 160 instant licences, which are processed in a single step without the need for either the memorandum of association or an existing location for the first year.