Abu Dhabi’s Department of Economic Development (DED) issued 17,575 new trade licences in 2011, according to official news agency WAM. While 12,417 licences were issued in Abu Dhabi, 1,602 were issued in the Western Region and 3,556 in Al Ain.
The figures emphasize the rising demand for trade licences in the recent past, reflecting the growing trade market and the urban expansion in Abu Dhabi, said Mohamed Munif Al Mansouri, acting executive director of commercial affairs, DED.
According to the report, 67,744 licences were renewed and nearly 4,620 licences were cancelled last year. A report issued by the Department of Trade Licences said that around 1,392 fines were levied on 874 offenders in 2011.
Al Mansouri said that the fines were imposed on companies conducting unlicenced activities, violating the licence and advertisement rules or committing commercial fraud.
In total, the number of valid trade licences registered in the emirate until late 2011 reached nearly 103,792, according to the report.
According to Al Mansouri, DED is drawing up rules, and developing programs, regulations and systems to govern the labor market, and ensure that Abu Dhabi becomes more attractive for investments.