Over 42,000 New Business Licenses Issued in Dubai in 2020
Over 42,000 New Business Licenses Issued in Dubai in 2020
12 January 2021
Dubai Economy registered a 4% growth of business licenses issued in the Emirate in 2020, totaling 42,640 new business licenses in comparison with 40,891 in 2019.
More than half of these businesses were focused on operations in Bur Dubai (22,276), followed by Deira (20,293), and Hatta (71). The latest figures “reflect the UAE’s and Dubai’s resilience as well as economic competitiveness, including its ability to provide businesses high-growth opportunities in various sectors," according to a statement by the Department of Economic Development.
Of these, 64%were professional and 35% licenses were commercial. Others were issued for tourism and industrial activities.
License renewals also saw a significant 15% annual growth, with a total of 162,762 transactions. The growth validates the positive impact of the economic stimulus package launched by Dubai, which allowed licenses to be renewed without lease contracts.
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