Servcorp News 2013| Confidence in Dubai on a rise :: Dubai and Abu Dhabi, United Arab Emirates

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Confidence in Dubai on a rise

May 2013 | SME Advisor

Key economic sectors and activity in Dubai remained stable and growing in the first quarter of 2013, with the Department of Economic Development (DED) issuing 4,582 business licenses, four percent higher than the 4,414 licenses issued during the same period in 2012. The professional sector at 24% accounted for the major share of licenses in the Q1 2013 followed by the commercial and industrial sectors.

“Confidence in Dubai is on an upswing with the emirate emphasising on overall competitiveness and sustained investment in infrastructure. While existing businesses in Dubai are venturing further out and spreading their wings, a growing number of investors are also sensing the ideal conditions to step forward,” said Saeed Matar Al Marri, Deputy CEO of Business Registration and Licensing (BRL) sector in DED.

The total number of amended licenses in Q1 of 2013 was 18,977, up six percent from 17,843 in Q1 of 2012 while the total number of renewed licenses grew four per cent to 28,323, as against 27,247 during the same period in the previous year. The total number of transactions rose seven percent to 158,588 in Q1 of 2013, from 147,770 during Q1 of 2012.

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