31 thousand new licenses in Dubai during the first half of 2021, a growth of 77%
Hamdan bin Mohammed: Dubai, with the vision of Mohammed bin Rashid, is leading the path of economic recovery in the region
Sami Al Qamzi: "We are working to facilitate all procedures for investors, to consolidate Dubai's position as a global investment destination."
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His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, stressed the strength and continuity of the emirate's ambitious economic growth, and its successful containment of the repercussions of the global crisis, represented by the "Corona" pandemic, whose effects were reflected on the economies of the countries of the world, thanks to adaptation. The rapid economic growth with the changes imposed by the pandemic, and the government’s speed in adopting and amending appropriate economic policies and applying them on the ground, in order to raise the rate of economic growth, reduce the cost of doing business, and economic incentive packages that contributed to enhancing the confidence of investors and businessmen in the promising prospects of the diversified national economy.
His Highness said: "Dubai's economy continues to overcome challenges and proves its high and rapid ability to recover. The results confirm that Dubai, with the vision of Mohammed bin Rashid, is leading the path of economic recovery in the region, to be the first destination for businesses and investors."
His Highness' statements came on the occasion of the launch of the semi-annual report on business movement, issued by the commercial registration and licensing sector in the Dubai Economy, which revealed numbers and growth rates that are the highest in the history of the Emirate of Dubai, at the level of the number of commercial licenses issued by the emirate, at rates that significantly exceed the pre- The global pandemic, where 31,000 new licenses were issued during the first half of this year, a growth of 77% compared to the same period in 2020.
Economic growth
In detail, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, stressed the strength and continuity of the emirate's ambitious economic growth, and its successful containment of the repercussions of the global crisis, represented by the Corona Virus (Covid-19) pandemic, whose effects were reflected on the economies of Countries of the world, thanks to the rapid economic adaptation to the changes imposed by the pandemic, and the government’s speed in adopting and modifying appropriate economic policies and applying them on the ground, in order to raise the rate of economic growth, reduce the cost of doing business, and economic incentive packages that contributed to enhancing the confidence of investors and businessmen. promising prospects for the diversified national economy.
This came during the launch of the semi-annual report on business movement, issued by the commercial registration and licensing sector in the Dubai Economy, which revealed numbers and growth rates that are the highest in the history of the Emirate of Dubai, at the level of the number of commercial licenses issued by the emirate, at rates that significantly exceed the pre-pandemic stage. Globally, where 31 thousand new licenses were issued during the first half of 2021, a growth of 77% compared to the same period in 2020, when 17,478 licenses were issued. To the full ownership of foreign investors, which is a pivotal step towards achieving the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to increase the attraction of foreign direct investment to various vital sectors in the country, and to raise the competitiveness of the business environment to levels A world leader, in line with the goalsstate for the next 50 years.
Business sector
His Highness said: "The strong growth of the business sector shows the extent of Dubai's ability to transform challenges into achievements, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and his conviction that successful crisis management creates opportunities. Dubai, thanks to His Highness' vision, has achieved success in managing the resulting crisis. about the (Covid-19) pandemic, and we were able to cross again to the path of escalating recovery, which confirms Dubai’s worth as a global city and the best destination to live and work in the world.”
His Highness pointed out that “the entry of different nationalities confirms the wise leadership’s constant keenness to create a distinguished investment climate that enjoys transparency, providing many diverse options for investment in different sectors, embracing them for local and foreign private sector companies, and providing an ideal opportunity to conduct business easily supported by security and safety, which enjoys The United Arab Emirates.”
His Highness added: "Achieving these numbers in Dubai in a way that exceeds the pre-pandemic stage, puts us in a race against time, to work together to enhance Dubai's position as an incubator for entrepreneurs and a center for giant international companies in the region, starting with discovering new opportunities for investors that meet the requirements of their future plans, In order to identify innovative development paths that would achieve Dubai’s global leadership in all fields.”
Report findings
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, in a tweet on Twitter yesterday: "The results of the report issued by the Department of Economic Development, which revealed the highest growth rates in the history of the Emirate of Dubai, is a true reflection of the rapid economic adaptation to the changes that imposed by the pandemic, reducing the cost of doing business and economic incentive packages that contributed to enhancing investors’ confidence in Dubai’s economy.
His Highness added: "The growth of commercial licenses in Dubai by 77% compared to last year... shows Dubai's ability to transform challenges into achievements, in accordance with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and his conviction that successful crisis management creates opportunities."
His Highness continued, "Dubai's economy continues to overcome challenges, and proves its high and rapid ability to recover... The results confirm that Dubai, with the vision of Mohammed bin Rashid, is leading the path of economic recovery in the region, to be the first destination for businesses and investors."
perfect destination
The Director General of Dubai Economy, Sami Al Qamzi, stressed that "the remarkable growth in the field of business licensing, which Dubai witnessed during the first half of 2021, is a testament to the flexibility and sustainability of the economy in the emirate."
Al Qamzi said: "We are working to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, by removing obstacles and facilitating all procedures for investors, to consolidate Dubai's position as a global investment destination, and the best choice for local investors and entrepreneurs. And globally.”
He added: "Dubai has managed to consolidate its economic foundations, future vision and ambition to meet challenges, maintain a healthy growth rate, and achieve the desired transformation into a digital economy. It also confirms the confidence shown by investors and businessmen in the potential of growth across various sectors in the emirate," noting that the initiatives Digital, such as the “Invest in Dubai” platform, plays a key role in achieving this vision, as the platform provides a unique experience for doing business in a style consistent with Dubai’s smart style, to be the largest unified platform that gives investors the opportunity to obtain commercial licenses, and start businesses within Few minutes, in an easy and smooth manner that saves time and effort.
"Invest in Dubai"
According to the report issued by the Dubai Economy, "Invest in Dubai", the unified digital platform for establishing businesses, launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, last February, contributed to the entry of 25% of the number of new licenses within five months, and contributed Attracting 10,591 investors, representing 117 different nationalities, the report indicated that the youth category is the highest investment with a percentage of 37% of the total investors on the (Invest in Dubai) platform, within the age group from 26 to 35 years, followed by the age group 36 to 45 with a percentage of 35%.
As for the distribution of new licenses according to the main regions, the largest share was the Bur Dubai region with a total of 19,931 thousand licenses, followed by the Deira region with a total of about 11 thousand licenses, and finally the Hatta region with 33 new commercial licenses.
The report also indicated the return and recovery of commercial activity in the Naif and Al-Ras areas, where these two areas witnessed a remarkable growth in the first half of this year, and the number of new licenses issued reached 723, with a growth rate of 75%, compared to the first half of 2020.
The number of licenses issued in the two regions is the highest since 2016. The total licenses operating in the Naif and Al-Ras regions amounted to 4,833, most of which focus on commercial activities, representing 58% of the total licenses in the two regions.
Sectors recover
The semi-annual report of the Dubai Economy showed a remarkable recovery in many vital activities and sectors in Dubai, where 1,153 new licenses were issued within the group of restaurants and cafes, with a growth of 92%, compared to the same period last year.
The new licenses in the tourism sector included, during the first half of this year, the issuance of 342 licenses, which included 20 new hotels in Dubai (a growth of 147%), in addition to many other tourism activities, such as organizing internal and external tourist trips, and it is expected to continue The growth in this sector, especially with the increase in the number of tourists to Dubai as a global destination, and the organization of (Expo 2020 Dubai) this year.
gold strip
The gold sector witnessed a remarkable growth of 102%, compared to the first half of 2020 (the number of licenses issued in the gold sector 204), and the sector included the trade of gold, jewelry, precious metals, and jewelry, its casting and manufacturing, and this sector is witnessing a global recovery with the start of recovery from the effects of the pandemic. .
The medical and pharmaceutical sector also witnessed a growth in the number of licenses issued (196), with a growth of 120%, compared to the first half of 2020. Among the licenses issued were two new hospitals. The issued licenses also included medical clinics, convalescent homes, laboratories, medical laboratories and pharmaceutical factories, This growth is promoted in the promotion of medical tourism in the country, in addition to the increase in medical coverage in the Emirate of Dubai.
Dubai Crown Prince:
• «The strong growth of the business sector shows the extent of Dubai's ability to turn challenges into achievements».
• "We were able to cross again to the path of escalating recovery, which confirms Dubai's merit as a global city and the best destination for living and working."
• “Achieving these numbers, in a way that exceeded before the pandemic, puts us in a race against time, to enhance Dubai’s position as an incubator for entrepreneurs.”
• "Dubai's economy continues to overcome challenges, and proves its high and rapid recovery capacity."
The fastest growing real estate sector
The real estate sector witnessed a growth that is the largest among the sectors, by 186%, as 487 licenses were issued, compared to 170 licenses for the same period last year. A positive sign in this regard.
Investment activities also witnessed a remarkable growth with the entry of 246 investment companies, an increase of 80%, compared to the same period last year. Investment activities were concentrated in commercial projects, their establishment and management, in addition to industrial and agricultural projects, health services and energy.
This diversity in investment activities contributes to enhancing economic diversification in the emirate and relying on several different sectors. The first half also witnessed the establishment of 12 new holding companies, bringing the total holding companies operating in Dubai to 216 holding companies, which indicates Dubai’s competitiveness in attracting large companies and the quality of General investment climate.
872 new licenses in the transport and shipping sector
The transport, shipping and warehousing sector is one of the most prominent growth sectors, and is closely related to internal and external trade, as 872 new licenses were issued, with a growth of 105%, compared to the first half of 2020, and the highest issued activities within the sector were sea freight services for goods, services Loading and unloading cargo containers, in addition to transporting goods by heavy and light trucks, and this sector is expected to achieve high revenues with the start of the global pandemic recovery phase and the growth of import and export movement.
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