The Dubai Economic Department confirmed the emirate’s competitiveness and its attractive ability to attract companies and investors who want sustainable growth and expand their business in various economic sectors.

It revealed in a report issued by the commercial registration and licensing sector yesterday about business movement in 2019 that 38,377 new licenses were issued in 2019 compared to 20,129 licenses in 2018 with a growth rate of 90%, while a decrease was recorded in the number of licenses canceled from 5,037 licenses in 2018 to 4,949 licenses in 2019.

Foreign investment

The Dubai Economy pointed out that the foreign direct investment law contributed mainly to attracting, attracting and encouraging foreign direct investment to the economic sectors and targeted activities, and thus allows for an increase in the share of investors, which confirms a strong start to the movement of companies entering the emirate, pointing out that the law also provides the frameworks By increasing the attraction of foreign investments in various strategic sectors, to build a global competitive economy based on knowledge and innovation.

Economic activities

Dubai Economy has made it clear that it has opened wider horizons for the business climate in Dubai, through the re-engineering of economic activities, as 50 commercial activities and 35 light industrial activities were converted into professional activities, which allowed the investor to obtain 100% absolute ownership, and motivated new investors to choose licenses Professionalism and choosing Dubai as a preferred destination for investment in the region.

Innovative initiatives

The Dubai Economy drew attention to many initiatives, including the "immediate license" that is issued through only one step without the need for a company establishment contract and an existing site, in the first year only, provided that the site is specified and the company’s establishment contract is attached upon renewal, in addition to « Trader License »concerned with licensing innovative business and emerging projects that are managed through websites and social media.

The Dubai Economy confirmed that "Expo 2020 Dubai" contributed to the entry of a large number of hospitality, catering, hotel and supply companies to the market in the Emirate of Dubai.

She pointed out that the figures issued by the "Business Map", the digital information platform, confirm Dubai's economic continuity in supporting and promoting the ambitious development process of Dubai's economy.

Record results

The report showed record results in the registration and commercial licensing transactions completed during the year 2019, as 324 thousand and 773 transactions were recorded, while the rental value of the units leased to companies in Dubai, during the past year, reached 26.2 billion dirhams due to several factors, most notably: the ease of doing business for owners Commercial licenses from businessmen and investors, high optimism of investors and businessmen, and increased competitiveness in the Emirate of Dubai.

The report pointed out that the total number of completed registration and commercial licensing transactions through outsourcing centers amounted to 247 thousand and 550 transactions, constituting 76% of the total transactions completed (324 thousand and 773 transactions).

Renewal transactions

The total renewal transactions reached 140 thousand and 951 transactions during 2019, which included 108 thousand and 407 renewal transactions, 32 thousand and 544 renewal and amendment transactions, while the total number of renewal transactions automatically through text messages reached 67 thousand and 701 transactions, which constitutes 48% of all transactions.

New Jobs

The results of the Business Traffic Report for 2019 revealed that the new licenses issued by the Dubai Economic Department contributed to adding 184,437 jobs to the labor market, which were distinguished by their diversity according to the activity, led by professional activities at 58%, then commercial activities by 40%, followed by tourism activities By 1.6%, and industrial by 0.4%.

The report highlighted the distribution of new licenses according to the main areas in the Emirate of Dubai, and the largest share of the “Bur Dubai” region was a total of 20,536 licenses, then the Deira region with a total of 17,798 licenses, and finally the “Hatta” region with 43 new commercial licenses.

Nationalities of licensees

Nationalities for new licensees varied in 2019 to include businessmen from Britain, Saudi Arabia, India, China, Bangladesh, Pakistan, Egypt, Jordan and Sudan.

53.3 A process of reserving trade names

The process of reserving commercial names registered 53 thousand and 37 procedures, and the number of initial approvals 43 thousand and 300 procedures, while the total number of commercial licenses in 2019 reached 16,271 permits, which confirms the attractiveness of Dubai to those wishing to engage in commercial activities on the one hand, and increasing business confidence The strength of the local economy. As for the number of instant licenses issued in one step without a site and a construction contract for the first year for the same period, it reached 2531 licenses, while the number of "merchant" licenses reached 2587 licenses.

26.2 billion dirhams the rental value of the units leased to companies in Dubai during 2019.

Foreign investment law and "Expo Dubai" and the re-engineering of activities support the entry of companies.