Licensing 3,400 new individual establishments in the country, most of them for young citizens

The number of new individual establishments that obtained a license to operate in various economic sectors in the UAE reached 3,400 enterprises during October of this year, a growth of 1.2% compared to September of the same year, according to the statistics documented by the National Economic Registry.

The growth in this type of activity contributed to the increase in the total cumulative number of individual establishments licensed in the country to 292.4 thousand establishments, which constitute about 42.4% of the total number of registered companies of various legal forms by the end of October 2020, which amounted to about 690 thousand companies.

The National Economic Register showed that the Emirate of Abu Dhabi is still in the first place in terms of the total number of licensed individual establishments, which exceeded 100 thousand by the end of October of this year, while Dubai came in second place with nearly 74 thousand establishments and Sharjah 55 thousand establishments and the rest of the number is distributed. Over the other Emirates.

A member of the Abu Dhabi Chamber of Commerce and Industry Board of Directors, Hamad Al-Awadi, said that the incentives provided by the government to support youth projects and entrepreneurs contributed to encouraging citizens to establish commercial businesses, noting that the vast majority of the ownership of individual enterprises in the country belongs to citizens of the youth category.

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