The Department of Economic Development (DED) has issued 1,646 new business licences during February and completed 23,407 business registration and licensing transactions, as Dubai maintained its ability to attract businesses looking to grow competitively and sustainably.

Of the total, 11,300 transactions were related to renewals while 2,060 initial approvals were given and 3,029 trade names reserved during the same period, as seen on the ‘Business Map’ digital platform, reported Emirates news agency Wam.

Business Map tracks business registration and licensing in DED and seeks to reflect the economic realities in Dubai by providing vital data on each licence category, including their numbers and distribution as well as investor trends on a monthly basis. February 2018 also saw 1,646 transactions relating to commercial permits, 1,644 auto renewals, 11 instant licences and 67 e-trader licences.

The majority of the transactions were related to commercial licences at 62.3 per cent, followed by professional, industrial and tourism categories. The Outsourced Service Centres, which have become a sought-after service outlet for the business registration and licensing (BRL) sector at the Department continued to witness increased activity in February accounting for 18,977 transactions, or 79 per cent of the total, during the month.

BRL activity in February 2018 covered all major sectors and services reflecting the overall optimism prevailing over the emirate’s business competitiveness and sustainability potential.

Real estate leasing and services accounted for 26.9 per cent of transactions, followed by community and personal services (12.4 per cent), construction and building (14.4 per cent), hotels (8.1 per cent), transport, storage and communications as well as manufacturing at 2.3 per cent each, financial brokerage (2.5 per cent), procurement (0.8 per cent), agriculture (0.4 per cent), occupational health (0.7 per cent) and education (0.6 per cent).

Top nationalities that sought BRL services in February included Indians, Pakistanis, Egyptians, British, Saudis, Chinese, Jordanians, Syrians and Americans.