«Economy»: 2945 branches of foreign companies in the UAE with a growth of 3.3%

The Ministry of Economy reported that the total number of branches of foreign companies registered in the country's markets during the year 2018 to the beginning of this year amounted to 2945 branches, an increase of 3.3% compared with the number of branches of companies in 2017 of 2850 branches, with the stability and attractiveness of domestic markets for foreign companies in different sectors .

The Emirate of Abu Dhabi acquired 49.5% of the total number of branches of foreign companies registered in the UAE until the end of last year, while Dubai accounted for 44% of the total number of branches registered in the UAE. .

In total, the total number of branches of foreign companies registered in the UAE market during the year 2018 to the beginning of this year reached 2945 branches, compared with the number of branches of companies reached 2850 branches during 2017, an increase of 3.3% with the stability and attractiveness of markets Of foreign companies to register their branches in the state.

The Emirate revealed that the Emirate of Abu Dhabi accounted for 49.5% of the total companies registered until the end of 2018, and Dubai came second with 44% of the total number of registered companies in the country.

The free zones accounted for 10 percent of the total number of foreign companies in the country, and the number of branches that acquired free zones in Dubai reached 185 branches by the end of last year.

The branches of foreign companies registered in the country's markets were distributed to 70 nationalities, most of them operating in industrial sectors, banks and consulting, in addition to branches of companies engaged in the fields of trade, agriculture, contracting and insurance.

According to the Ministry of Economy, the branches of American companies ranked first in the total of foreign companies in the country and by 12%. Branches of British companies ranked second with 10% followed by Indian companies by 6.2%.

The number of branches of companies from South Korea registered in the UAE reached 151 branches by the end of last year. The number of branches of French nationality reached 123 branches, while the total number of branches of German companies in the country reached 105 branches.

The branches of the Swiss nationality companies registered in the UAE market amounted to 92 branches, the number of branches of Chinese companies 88 branches, and the branches of Virgin Islands and Cayman registered in the country 182 branches, while the branches of Spanish companies 58 branches.

The ministry said in its statements that the branches of Lebanese nationality companies topped the branches of Arab companies registered in the UAE, with 102 branches, followed by companies of Egyptian nationality at the Arab level with 44 branches.