Dubai experiences 22% growth in commercial licencing business H1 2022

Dubai experiences 22% growth in commercial licencing business H1 2022
Dubai experiences 22% growth in commercial licencing business H1 2022

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Jeddah - Yasmine El Tohamy - DUBAI: The Department of Planning and Development in Dubai, Trakhees, completed approximately 16,000 transactions through its Licencing Department during the first half of 2022, Emirates News Agency reported.

This figure represents a 22 percent growth increase over the same period last year.

Trakhees is the regulatory arm of the Ports, Customs and Free Zone Corporation of Dubai.

Its Licencing Department provides corporate licensing services to local and free zones, as well as government agencies, such as the issuance of work permits, establishment cards, and no-objection certificates.

Trakhees CEO Abdulla Belhoul explained that the department experienced significant growth in all services supplied by the Licencing Department in the commercial licensing sectors in its private development areas.

Belhoul stated that Trakhees is eager to promote economic growth and strengthen Dubai’s position as a leading sustainable hub to support the global economic sector.

He also pointed out the eagerness of Trakhees to realize Dubai Ruler Al Maktoum’s vision of supporting the economy and elevating Dubai’s position as a preferred global investment destination.

Furthermore, Trakhees seeks to enhance its services in order to keep up with the aspirations of the UAE’s business leaders and investors.

“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,” Belhoul added.

According to official statistics released by the Licencing Department, demand for local licensing services by customers increased to 7,067 transactions in the first half of this year.

The local license renewal service ranked first with 3,426 transactions, followed by local license amendments with 1,063 transactions.

Booking a new trade name resulted in 951 transactions, followed by 627 transactions for new local licenses.

Respectively, International City ranked first with 203 local licensing transactions, followed by Jumeirah Village Circle in second place, Palm Jumeirah, Dragon Market, and finally Palm Deira.

The statistics showed an increase in the number of government services transactions during the first half of 2022. This was accompanied by an increase 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.

Regarding free zone license, the license renewal service was the most requested service, with 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 licenses.

According to Belhoul, Trakhees seeks to facilitate requesting and obtaining various commercial licenses by implementing a package of procedures and improvements in its unified electronic system for issuing commercial licenses.

Additionally, the department aims to adopt a culture of excellence in performance to ensure customer satisfaction by shortening the time it takes to obtain these services.

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