Dubai’s economy confirmed the emirate’s competitive continuity and its attractive ability to attract companies and investors who want sustainable growth and expand their business in various economic sectors.
In a report issued by the Commercial Registration and Licensing Sector yesterday on business movement in 2019, it revealed that 38,377 new licenses were issued in 2019 compared to 20,129 licenses in 2018 with a growth rate of 90%, with a decrease in the number of canceled licenses From 5,037 licenses in 2018 to 4,949 licenses in 2019.
The report 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 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 ’entry in the emirate, pointing out that the law also provides frameworks to increase Attracting foreign investments in various strategic sectors to build a global competitive economy based on knowledge and innovation.