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February 12, 2020
A recent report by the Business Registration and Licencing sector at Dubai Economy states that 38,377 new licences were issued in 2019, a record growth of 90% compared to 2018 (20,129). Meanwhile, the past year also saw a decrease in the number of licences cancelled, compared to 2018, from 5,037 to 4,949.
There are number of factors that triggered such an incredible growth:
Foreign Direct Investment Law contributed to attracting and encouraging foreign direct investment to Dubai’s economic sectors and targeted activities.
Restructuring of economic activities by Dubai Economy, with 50 commercial activities and 35 light industrial activities converted into professional activities.
Expo 2020 Dubai have also contributed to attracting a large number of hospitality companies, restaurants, hotels and supply companies to invest in the city.
The report showed that License Renewals reached 140,951 transactions in 2019. Overall, 324,773 business registration and licencing transactions were recorded in 2019, while the rental value of units leased to companies in Dubai amounted to AED26.2 billion, as more Businesses and investors gained from the emirate’s competitiveness and increasing opportunities across diverse economic sectors.
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