Number of commercial licenses in Dubai hits record, rising 77 pct in first half

Dubai has recorded its highest licensing growth in history with the number of commercial licenses rising 77 percent in the first half of 2021, according to the latest report from Dubai Department of Economic Development (DED).

Dubai Crown Prince Sheikh Hamdan bin Mohammed Al Maktoum commented on the emirate’s achievement in a tweet: “We have adapted to the changes brought by the pandemic by launching initiatives to reduce the cost of doing business and incentive packages for enhancing investor confidence.”

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“We have put in place all the elements needed to ensure Dubai’s accelerated economic growth and raise its competitiveness to world-leading levels, in line with the nation’s goals for the next 50 years.”

Sheikh Hamdan, referring to the 77 percent increase in commercial licenses issued said, it “shows the emirate’s ability to turn challenges into achievements,” reflecting Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum’s conviction “that successful crisis management creates new opportunities.”

Dubai continues to overcome challenges and prove its ability to recover rapidly, he added. The latest results confirm that in line with Sheikh Mohammed’s vision, “Dubai is leading the region’s economic recovery and reinforcing its position as a leading global investment and business destination.”

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