35 thousand new economic licenses in the UAE within 10 months

35 thousand new economic licenses in the UAE within 10 months
35 thousand new economic licenses in the UAE within 10 months
The number of new economic activities licenses in all the emirates of the country during the first ten months of this year reached 34,784 licenses, according to the latest data from the National Economic Registry.

The data of the register of the Ministry of Economy for the period showed that the total number of economic activity licenses registered in the country increased to about 689 thousand and 259 licenses as of October 28, 2020, compared with 680 thousand and 448 licenses at the end of last September, an increase of 8,811 licenses, according to what was reported in the newspaper. the Union”.

The number of economic activity licenses in the UAE during the first three months of this year in January, February and March reached 9348 licenses, 7325 licenses during April, May, June, July and August, and 18 thousand and 111 licenses during September and October.

Movement growth

The continued growth in the licensing movement of economic activities reflects the great confidence of local and foreign investors in the national economy, which has demonstrated a high ability to face challenges and turn them into opportunities, with the support of initiatives and stimulus packages launched by the federal and local governments and aimed at activating all economic sectors.

According to the statistics of the National Economic Registry, the project management services licenses topped the top 10 economic activities during the month of October 2020 compared to the month of September 2020, with 1348 licenses, followed by the licenses for painting and paints for buildings with 514 licenses, then floor and wall tiling work with 433 licenses, while the trading licenses were registered. Electronic increase of 151 licenses from the previous month.

The emirate of acquired the largest percentage of the total registered licenses, followed by Abu Dhabi and then the Emirate of Sharjah, while the rest of the activity licenses are distributed to the emirates of Umm Al Quwain, Ajman, Fujairah and Ras Al Khaimah.

The legal form of companies

According to the distribution of licenses in terms of the legal form of companies, the licenses of individual establishments accounted for about 42.5% of the total number of licenses issued in all the Emirates, about 293 thousand and 43 licenses, while the percentage of limited liability companies accounted for about 38.97% of the total number of licenses, about 268 One thousand and 633 licenses, while the rest of the percentage was distributed to other legal forms, including public and private shareholding companies, one-person companies, and simple partnership companies.

It is noteworthy that the National Economic Registry issued by the Ministry of Economy is a federal electronic platform that was developed within government accelerator initiatives, and the registry records the number of licenses registered in the emirates of the state daily, and aims to provide accurate, comprehensive and immediate data on the economic licenses in the UAE.

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