90% spike in new trade licences
dubai — The Department of Economic Development of Dubai, or Dubai Economy, on Sunday said it recorded 90 per cent growth in new trade licences in 2019, reflecting the overriding confidence of investors and businesses in the remarkably resilient power of the economy.
In a statement, Dubai Economy said FDI Law, preparations for Expo 2020 Dubai and restructuring of economic activities spurred optimism among investors.
dubai — A record surge in the number of new trade licences issued in Dubai in 2019, in spite of a discernable regional and global downtrend, underscores the overriding confidence of investors and businesses in the remarkable resilient power of the economy, economists said.
The business community in the emirate continues to invest and expand, Dubai Economy — the emirate’s Department of Economic Development — said on Sunday while reaffirming that the emirate’s economic competitiveness and its ability to attract investors continue to grow in 2019 on the back of investor-friendly laws and reforms, preparations for Expo 2020 Dubai and restructuring of economic activities.
According to a recent report by the Business Registration & Licensing sector in Dubai Economy, 38,377 new licences have been issued in 2019, a record growth of 90 per cent compared to 2018 (20,129).
New improvements in regulations and compliance further strengthen [Dubai’s] economic structure both from the local and international perspective Atik munshi,
Senior partner at Crowe
The new FDI law, various economic stimulus packages and other investorfocused initiatives by the government have helped trigger a rebound in business and investor optimism Sebastian Joseph,
Group CEO of Knowlton International