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81% of companies in Dubai plan to open new branches within the emirate

2019-08-21T22:05:16.308Z

A survey conducted by the Dubai Economic Department on the companies operating in the emirate revealed that companies are optimistic to open new branches inside and outside the UAE during the second half of 2019, as 81% of the companies that participated in the study stated that they plan to open new branches inside the emirate.



A survey conducted by the Dubai Economic Department on the companies operating in the emirate revealed that companies are optimistic to open new branches inside and outside the UAE during the second half of 2019, as 81% of the companies that participated in the study stated that they plan to open new branches inside the emirate. % Of companies open branches in the other emirates, and 1.3% of companies plan to open branches outside the UAE.

Services sector

Dubai's economic data showed that the services sector is the most optimistic about the plans to open new branches within the emirate, followed by the trade and manufacturing sector, pointing out that SMEs are the most optimistic of large companies on the plans to expand capacity, where 16.3% of SMEs expect to expand Its current headquarters compared to 14% of large companies.

The Dubai Business Survey in the first quarter, released by the Department of Economic Information in the Policy and Economic Studies Department of the Dubai Economy, revealed a positive outlook for companies operating in Dubai on investment.

Business Challenges

The study pointed out that companies mentioned that the delay in payments was the first challenge faced in their business activities during the first quarter of this year, followed by the challenge of competition and uncertainty about the economic conditions, in addition to other challenges related to insufficient demand, high licensing fees, taxes and customs duties, as well as About the high cost of services and rent, restrictions on funding, and legal aspects related to employment and trade laws.

The Dubai Economic Department pointed out that the aim of the survey conducted by a sample of companies in the Emirate of Dubai includes 504 companies including a mix of small, medium and large companies, is to determine the perceptions of the business community, and thus assess the level of current economic activity and the expectations of companies, pointing to the importance of clarifying the views of companies Its observations on the challenges that may affect its growth and development and assesses its investment projections over 12 months.

Study Indicators

The study focused on key indicators, such as sales prices, sales volumes, profits and the number of employees, to measure business visibility or expectations.Participants are asked to determine whether they expect a rise, fall or 'no change' in these criteria.

The study showed that large companies achieved stronger performance than SMEs during the first quarter of this year, and exporting companies reported better performance than local companies oriented towards the local market in terms of sales prices, sales volumes, employment, wage levels and profits. , And new purchase orders.

14.7 thousand licenses

Dubai Economic Department said in a previous report that it issued 14,737 new business licenses in Dubai during the first half of 2019, a testament to the continuity of the emirate's competitiveness and attractiveness to investors, and increase the confidence of businessmen and investors to the robustness of the local economy in Dubai as the best cycle approaches Expo to be hosted by Dubai next year.

Source: emara

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