Dubai registers record number of new companies
Originally published in Arabian Business (link below)
Dubai Economy says the growth in new firms shows the emirate remains competitive globally
A record number of new companies obtained licenses in Dubai during the first half of the year, Dubai Economy has revealed.
A total of 10,455 commercial licenses were issued during the first six months of the year and another 71,831 were renewed, the department said.
About 73 percent of the new commercial licenses were categorized as trade licenses, with 23.4 percent professional licenses, 1.9 percent industrial licenses and 1.7 percent tourism licenses. Dubai Economy said the high proportion of trade licenses showed Dubai’s position as the one of the world’s leading shopping destinations.