Dubai has recorded a 63 percent year-on-year growth in trader licenses during the first half of this year despite challenging environments across the globe indicating its strong economic resilience.
The DED Trader license, launched by the Business Registration & Licensing (BRL) sector of Dubai Economy to enable freelancers and startups to conduct business activities online and across social networking accounts, issued 3,243 trader licenses during January-June 2021 compared to 1,989 licenses in the same period last year. It issued 13,430 licenses from March 2017 till the end of June 2021.
The growth in the number of licenses issued also reflects the focus of the Dubai Economy on promoting eCommerce and economic competitiveness, as well as its commitment towards achieving the vision of the government to drive digital transformation.
The report issued by the BRL sector showed that males accounted for the highest share (63 percent) of the total DED Trader licenses issued during the first half. Information Technology topped the list of activities of the licenses issued followed by readymade garments, ladies tailoring and design, handicraft workshops, gents tailoring and design, preparation of food, commercial brokerage, exhibitions and other professional services.
The DED Trader license can be obtained electronically on the invest.dubai.ae portal by following simple steps. Through DED Trader, Dubai Economy seeks to regulate and enhance the ease of doing business electronically, while also offering a platform that supports and develops trade as well as connects customers with traders. The licensee cannot open a shop/store but can avail of three visas if the ownership is 100 percent Emirati and legal liability falls on the license holder.
Dubai Economy focuses on offering support to the DED Trader license holders by signing partnerships with government and private sectors, providing facilities for their business growth as well as opening new channels by enhancing cooperation with major sales outlets.
Dubai Economy has partnered with noon, the region’s leading homegrown digital marketplace, to connect local startups with customers across the region through its Mahali digital store, a program designed to offer Emirati startups with digital business support and expertise, enabling them to grow their businesses online.
Further, it has partnered with MyFatoorah to facilitate e-payments for transactions related to DED Trader licenses, talabat to display and sell food items through its platform, and with ‘Akshaak’ to display and sell products of DED Trader license holders online for free.
The benefits of getting a DED Trader license include membership in Dubai Chamber for commercial activities, bank facilities, Customs Client Code for import and export via dubaitrade.ae, temporary employment services, participation in exhibitions & conferences and training workshop, displaying of products in consumer points of sale, and providing workspace.