The number of new economic licenses issued by the economic departments in the UAE reached about 5,900 licenses during the month of August 2020, to continue growing for the fourth month in a row.
According to the Emirates News Agency, the latest figures documented by the National Economic Registry showed that the licensing activity continued to grow and contributed to the cumulative rise in the total number of licenses in the country to 671,148 licenses Compared to 665,246 licenses during the same two monitoring periods.
and the continued growth in the licensing movement for economic activities reflects the great confidence of local and foreign investors in the national economy, which has demonstrated a high ability to face challenges and turn them into opportunities with the support of creative stimulus packages. Launched by the federal and local governments and aimed at revitalizing all sectors.
Hamad Al-Awadi, a board member of the Abu Dhabi Chamber of Commerce and Industry, said that the UAE has demonstrated its excellence in dealing with all the economic or health crises the world has witnessed and has succeeded in minimizing their effects. On the national economy, not only that, but some challenges were turned into opportunities, which deserved the world's respect.
He added that the UAE's handling of the consequences that the crisis caused by the Covid-19 epidemic has created on the national economy was distinguished, as the federal government and local governments launched many incentive initiatives that All sectors were targeted, which provided protection for the consumer and the national economy in general.
He explained that the package of incentives launched by the state, which came as a result of the high political and economic professionalism enjoyed by the decision-maker, contributed to the final outcome by enhancing investor confidence in the national economy, which was reflected. Its positive effects on licensing activities, which have maintained good growth rates during the past months, according to statistics issued by the concerned authorities in the country.
Returning to the details of the movement of licensing activities at the level of the Emirates, Abu Dhabi, Dubai and Sharjah continued to acquire more than 81% of the total licenses registered in the country .. while the rest of the percentage was distributed. On the rest of the Emirates, namely Ras al-Khaimah, Ajman, Fujairah, and Umm al-Quwain.
In terms of the legal form of companies, limited liability companies accounted for about 41% of the total number of licenses issued in the country by the end of August 2020, while the sole proprietorship acquired 34% and the rest of the percentage was recorded for the rest of the legal forms of companies, which are public and private shareholding, solidarity, recommendation and other forms.
