The total number of licenses for economic activities in the UAE increased to 572,615 licenses during the last eight months of this year, a growth of about 6% and an increase of 32,256 licenses compared to 540,359 licenses at the end of December 2018.
The significant increase in the number of licenses issued in all emirates, as documented by the National Economic Register of the Ministry of Economy, reflects the continued activity of most sectors that constitute the main tributary of the national economy, which supports the expectations of the competent authorities in the UAE to increase growth rates during 2019.
The UAE Central Bank had forecast the country's real GDP growth of 2.4% this year in its latest report.
Regarding the activity of licenses granted to economic activities, the data showed that the emirates of Abu Dhabi and Dubai acquired about 70.6% of the total number of licenses issued in all emirates by the end of last August, where the number of licenses registered in Abu Dhabi and Dubai reached 404,492 licenses.
Dubai ranked first in the number of licenses issued with 268,574 licenses, while the number in Abu Dhabi reached 135,918 licenses at the end of August 2019.
In terms of the legal form of licenses issued in Dubai, the limited liability companies came first with 181,989 licenses, while the number of licenses of individual establishments reached 78,491 licenses and then the limited liability companies «one person» with 3935 licenses, while arrived The number of licenses of branches of foreign companies 2140 licenses and 848 branches of Gulf companies, while the rest is distributed to public shareholding companies and private shareholding companies and limited partnership companies.
In the Emirate of Abu Dhabi, the number of licenses for individual establishments reached 86,837 licenses, while the number of limited liability companies reached 27,590 licenses, 17 thousand and 779 licenses for the branches of companies.The rest were registered for solidarity and private companies, one-person companies and public shareholding.
For the Emirate of Sharjah, the total number of licenses issued reached 82,825 licenses by the end of August 2019, while the number of licenses for individual establishments reached 53,458 licenses and about 23,582 licenses for limited liability, while the rest were distributed to other legal forms of companies .
The National Economic Register is a federal electronic platform developed as part of the Government Accelerator initiatives, and supervised by the Ministry of Economy.
The platform aims to adopt the tools of knowledge economy by providing accurate, comprehensive and real-time data to existing economic licenses in the UAE.
A license issued in Dubai.