A record number of 10,455 commercial licences were issued in the first half of the year by the Business Registration and Licensing (BRL) unit of Dubai Economy, according to a report.

At an average of 1,743 licences per month, these results underline the sustainable growth achieved by companies in various commercial activities, and the competitiveness of the business sector in Dubai and the UAE, reported state news agency Wam.

Of those issued by Dubai Economy, 73 per cent were trade licences, while 23.4 per cent were professional ones, 1.9 per cent were industrial and 1.7 per cent for tourism, thus reflecting Dubai's position as the one of the world’s leading shopping destinations, it stated.

The BRL unit also renewed a total of 71,831 licences during the first half at a monthly average of 11,971, it stated.

The total number of reserved trade names during the first half surged to 6,776, a monthly average of 3279, while the total number of initial approvals reached 13,475, at a monthly average of 2245. The number of amended licenses reached 16,683 commercial licenses at 2614 licenses per month, according to the Wam report.

The strategic guidance provided by Dubai’s leadership in stimulating diversification and removing barriers for entrepreneurs and investors in vital sectors has been contributing to the accelerated development of the economy, said the report.
 
The latest figures on business licensing proves the investor focus on Dubai and the regional and global competitiveness of the emirate, it added.