Abu Dhabi-Mubasher: A significant growth in the number of licenses granted by UAE to GCC nationals to practice economic activities to 38,701 by the end of 2014, an increase of 3,695 compared to figures from 2013, according to the Ministry of Finance (MoF).
In its 6th Annual Statistical Report on the Gulf Common Market (GCM), the ministry showed that Saudi Arabia topped the license grants chart with 16,797 licenses issued in 2014 from 15,052 a year earlier, followed by Kuwait at 7,141, Oman at 6,487, Bahrain at 5,706 and Qatar at 2,570.
Issued by the Regional and International Financial Relations Department at MoF, the report added that joint-stock companies that allow GCC citizens to trade shares increased to 80 companies in 2014, representing 74% of total companies registered with the Securities and Commodities Authority (SCA) in UAE.
The number of Gulf investors reached 278.185, with capital value of AED 98.923 million.
Also the MoF undersecretary Younis Haji Al Khoori said that there is no estimated deficit for the 2015-2016 draft budget approved by the Cabinet.
