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His Royal Highness Sheikh Hamdan bin Mohamed bin Rashid Al Maktoum, Crown Prince and Chairman of Dubai, stated that the government’s rapid response measures and decisive adaptation changes in the face of COVID-19 have enabled Dubai to successfully contain it Pandemic and maintain strong economic growth. Dubai Executive Committee.
His Royal Highness stated that in addition to providing stimulus packages to increase the confidence of enterprises and investors, the government has also adopted a series of new strategic methods and revised policies to accelerate economic growth and reduce business costs.
His Highness’s statement was issued during the semi-annual business activity report issued by the Business Registration and Licensing (BRL) Department of the Dubai Economy, which showed that licensing activities exceeded pre-pandemic levels and set the highest growth rate in history. Dubai.
A total of 31,000 licenses were issued in the first six months of 2021, an increase of 77% compared to the 17,478 licenses issued in the same period in 2020. The record growth is mainly attributable to measures taken to ensure business continuity and further simplify government business procedures.
Granting full ownership options to foreign investors is an important step towards realizing the vision and instructions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Attracting foreign direct investment (FDI) into important sectors and improving business competitiveness in accordance with Dubai’s goals for the next 50 years will also help increase investor confidence.
The crown prince stated that the strong growth of the business sector reflects Dubai’s ability to transform challenges into achievements, which is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum and his belief that successful crisis management creates opportunities. Unanimous. The vision of His Highness Sheikh Mohammed bin Rashid enables Dubai to successfully overcome the impact of COVID-19, accelerate its recovery and consolidate its position as a global hub and the best place to live and work in the world.
HH Sheikh Hamdan bin Mohammed pointed out that the international diversity of investors in Dubai is a testament to the leadership’s commitment to creating a growth-friendly and transparent investment environment throughout the UAE, which is characterized by ease of doing business and security.
His Royal Highness added: “The record we have achieved inspires us to continue working as a team, further enhancing Dubai’s status as an entrepreneurial incubator and a global corporate hub by finding new opportunities for investors to realize their ambitions and establishing innovative development paths. . Strengthen Dubai’s global leadership in all fields.”
Invest in Dubai platform
According to the Dubai Economic Report, “Invest Dubai” is a comprehensive digital platform for business in Dubai. It was launched by Sheikh Mohammed bin Rashid Al Maktoum in February last year, accounting for the newly issued licenses in the past five months. 25% of the certificate. A total of 25% of the licenses involved 10,591 investors from 117 different nationalities. A total of 37% of new investors acquired through “Invest in Dubai” are in the 26-35 age group, and another 35% are between 36-45 years old.
According to the latest report on the new licenses from the Dubai Economic “Business Map”, the Bur Dubai region accounted for the largest proportion of new licenses issued in the first half of 2021 (19,931), followed by Deira (11,008). The Hatta region accounted for 33 of the new permits. The report also pointed out that commercial activities in the Naif and Al Ras regions are recovering and recovering, as the new permits (723) in these two regions in the first half of 2021 are the highest level since 2016, which is an increase compared to the same period. Up 75% in 2020. The total number of business licenses of Naif and Al Ras reached 4,833 in the first half of 2021, most of which (58%) were used for business activities. The number of licenses issued in these two areas is the highest since 2016.
His Excellency Sami Al Qamzi, Director General of the Dubai Economy, stated that Dubai witnessed extraordinary commercial licensing activities in the first half of 2021, which proved the resilience and sustainability of the emirate’s economy. “Dubai has been able to integrate its economic fundamentals, progressive vision and ambitions into a powerful force capable of responding to challenges, maintaining a healthy growth rate, and realizing its transition to a digital economy. Investors and businesses to the growth of the emirate’s various sectors The potential and the confidence shown by digital initiatives such as “Invest in Dubai” also underscore the vision of our leadership and the approach taken by the government to further diversify the economy and integrate modern technologies to achieve the happiness of our customers.”
Resumption of important activities and departments
The semi-annual report on the Dubai economy shows that in the first half of 2021, many important activities and industries have experienced a significant recovery. The restaurant and cafe category received 1,153 new licenses, an increase of 92% compared to the same period last year. The tourism industry ushered in 342 permits, including 20 new hotels (an increase of 147%), in addition to various other activities such as inbound and outbound travel. Activities in the industry are expected to increase, especially due to Dubai’s continued popularity as a major global destination and its image as the venue for this year’s World Expo, and the number of tourists is expected to increase.
Gold plate
Compared with the first half of 2020, the gold industry has also seen a significant growth of 102%. In the first half of 2021, the industry issued a total of 204 new licenses and is currently rebounding globally.
real estate
The real estate industry had the highest growth, reaching 186%, with 487 permits issued, compared with 170 permits in the same period last year. Activities in this sector include buying and selling brokerage and real estate leasing.
Investment activities in Dubai have also gained significant appeal in the first half of 2021, with 246 investment companies entering, an increase of 80% compared to the same period in 2020. These activities include investment in commercial projects and their establishment and management, as well as projects in the industry, agriculture, health services, and energy sectors. The diversity of new investment activities is expected to accelerate Dubai’s economic diversification.
In the first half of this year, 12 new holding companies were added, bringing the total number of such companies in the emirate to 216. This proves that Dubai’s status as the preferred investment destination of large companies continues to improve.
Transportation, transportation and warehousing
Transportation, shipping and warehousing are important industries related to internal and external trade. In the first half of 2021, 872 new licenses were issued, an increase of 105% over the same period in 2020. Activities in this industry include shipping services and container loading and unloading. In addition to heavy and light trucks, as the pace of economic recovery accelerates, imports and exports increase, and demand for goods increases, it is expected to achieve high income.
Compared with the first half of 2020, the number of licenses issued by the medical and pharmaceutical industries has also increased sharply (196), an increase of 120%. Two new hospitals, as well as clinics, rehabilitation centers, laboratories and pharmaceutical production units are among the licensed facilities. The growth of the industry reflects the development of medical tourism in the UAE, the expansion of Dubai’s healthcare coverage, and the increasing reliance on the local pharmaceutical and medical supplies industry.
To start a business in Dubai, please visit invest.dubai.ae or dial 600 500 006 to contact the call center
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