Dubai sees 69% growth in new business licences

istock [For illustration]

There's been a 69 per cent growth in the number of new business licences issued in Dubai during the first 10 months of this year.

According to the Department of Economy and Tourism, as many as 55,194 permits were issued between January and October, as compared to 32,626 during the same period in 2020.

Sole Establishment firms topped the list, followed by Limited Liability companies, with the Bur Dubai area accounting for the bulk of new licences.

Al Fahidi, Burj Khalifa, Port Saeed, Al Marrar, Trade Centre 1, Qubaisi, Al Barsha 1, Naif, Al Garhoud and Al Karama were the top sub-regions.

Officials said the positive figures underline growing confidence in Dubai's economy and the high-growth opportunities in various economic sectors.

Investors can easily obtain any trade licence or launch a business in a matter of minutes through the integrated digital business set-up platform, 'Invest in Dubai'.

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