Dubai sees 22% growth in commercial licencing transactions in H1 2022
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Dubai sees 22% growth in commercial licencing transactions in H1 2022

Dubai sees 22% growth in commercial licencing transactions in H1 2022

The Department of Planning and Development – Trakhees aims to expand the services it provides, including issuing commercial licences and work permits

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Dubai sees 22% growth in commercial licencing transactions in H1 2022

The Department of Planning and Development – Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has reported that it completed close to 16,000 transactions through its Licencing Department during H1 2022, registering a growth of 22 per cent as against the same period last year.

The department provides corporate licencing services to local and free zones and government bodies, including issuing work permits, establishment cards and no-objection certificates (NOC).

In a report published by the state news agency, WAM, Abdulla Belhoul, CEO of the Department of Planning and Development – Trakhees, explained that Trakhees achieved remarkable growth with all services provided by the Licencing Department in the commercial licencing sectors in its private development areas.

He said that Trakhees is keen to promote economic growth and achieve the Ports, Customs and Free Zone Corporation’s vision, to strengthen Dubai’s position as a leading sustainable hub to support the economic sector at the global level.

In addition, for the benefit of individuals and companies and in cooperation with various partners, Trakhees seeks to develop and expand the services it provides, such as issuing commercial licences, work permits, and other documents, to keep pace with the aspirations of business leaders and investors in the emirate.

Belhoul added, “To reassure the support of the Department of Planning and Development – Trakhees towards providing the required services for projects and small and medium enterprises according to the highest standards, the department received 1,029 transactions to reserve a new trade name, at the level of local and free zone licences, during the first half of 2022 in private development areas that fall under the supervision of the Ports, Customs and Free Zone Corporation.”

The official statistics issued by the Licencing Department indicated growth in the demand for local licencing services by customers, both individuals and companies, to reach 7,067 transactions from January to June of this year.

The local licence renewal service ranked first with 3,426 transactions, followed by local licence amendments with 1,063 transactions. Booking a new trade name registered 951 transactions, followed by new local licences with 627 transactions.

In the same context, International City ranked first in the list of sites that obtained local licencing transactions with 203 licences, followed by Jumeirah Village Circle in second place, Palm Jumeirah, Dragon Market, and finally Palm Deira.

At the level of government services transactions, the statistics indicated a growth during the first half of 2022, which was accompanied by a rise in the number of work permits issued by the department, reaching 3,440 approved in Dubai, followed by 1,270 transactions related to permit renewal.

In terms of free zone licences, the license renewal service ranked first in the list of services requested by dealers in this speciality, reaching 527 transactions from January to June 2022. This was followed by 185 commercial permits and 78 transactions for reserving a trade name under the category of free zone licences.

Trakhees is keen to facilitate the process of requesting and extracting various commercial licences by implementing a package of procedures and improvements carried out by the department in its unified electronic system for issuing commercial licences, in addition to reducing the time to obtain these services.

In recent news, according to figures shared by the Department of Economy and Tourism (DET) in Dubai in its Q1 2022 report developed by the DET’s Business Registration and Licensing. Dubai issued 24,662 new business licences in Q1 2022, an increase of 58 per cent compared to Q1 2021, during which 15,580 licences were issued.

Read: Dubai issued 24,662 new business licences in Q1 2022, up 58% y-on-y

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