Ahead of the 2020 World Expo, the Al Maya Group has highlighted the ease of doing business in the Emirate of Dubai, based on the soaring number of licenses recorded in August, 2021. One of the top food distribution companies in the region, the Group has hailed the record 5,885 new licenses issued for the month. This clearly indicated a major pick-up in investor sentiments prior to the mega World Expo which is expected to be a game-changer for the Emirate as well. Dubai Economy has already confirmed the license count as compared to around 3,829 issued in the same month in 2020. This indicated year on year growth figures of 54%. Experts feel that this clearly points at the sheer ease of doing business in Dubai above all else while simplifying all Government related procedures for companies.
3,473 new licenses were registered by the Business Registration and Licensing Sector of Dubai Economy for entities in the professional segment for August or 59% of the total tally. 2,378 licenses or roughly 40% were given for the commercial segment while 1% were issued for industrial activities going on in the Emirate. Bur Dubai witnessed the biggest share of new licenses with 4,299 in total while Hatta and Deira notched up figures of 9 and 1,577 licenses in total. Dubai is one of the most reputed cities with regard to overall lifestyle, safety and opportunities for investments.
Group Director and Partner, Al Maya Group, Kamal Vachani, stated that 54% of year on year growth in the issuance of new business licenses in Dubai is hugely positive and will further boost the position of the Emirate as one of the biggest global destinations for beginning new businesses. He added that the Dubai Government is paying special attention towards simplifying business procedures and this is a major reason behind more investors willing to commence businesses in Dubai. Invest in Dubai is another good platform and solid initiative taken by the Government of Dubai for enabling investors at a single place and catering to all their needs by finishing procedures for business licensing according to him.