UAE – Mubasher: Abu Dhabi Business Center of the Department of Economic Development - Abu Dhabi (DED) has issued 4,813 new economic licences in the first quarter of this year, up 39% year-on-year from 2,935 licences, according to the centre’s Q1-19 Business Activity Report.
This included the issuance of 4,567 commercial licences in Q1-19, which grew by 40% compared to 2,779 licences issued in Q1-18, and the issuance of 103 professional licences from 49 licences in the year-ago period, according to a press release.
The new economic licences also included 58 new occupational licences, 49 tourist licences, 29 new, and 7 licences of agricultural, livestock-wealth, and fish-wealth licences.
The report showed that the new licences were issued in accordance with the legal form as follows: “3338 licenses for individual institutions, 591 new branches for existing companies, 549 limited liability companies, 314 One-Person companies LLC.”
“The total number of the professional companies was 3 in addition to 16 individual local institutions and 2 public shareholding companies,” the report said.
The new licences also included the issuance of 1,718 Tajer Abu Dhabi licences, 197 Mobile Car Licences, 104 Mubdia'h licences, and 30 Dual Licences in Q1-19.
Almost 20,964 transactions to renew economic licences were completed and 10,351 economic licences were amended in Q1-19, according to the report.
Mohammed Munif Al Mansouri, the executive director of Abu Dhabi Business Center of the DED, said: “All programs and initiatives launched by the DED had an important role in the growth of many new companies and in increasing the activities and business of the existing huge projects, especially in the developed business environment of Abu Dhabi that has a strategic location in the region as well as its developed infrastructure and so many other economic and social strengths.”
