Despite the adverse effects of COVID-19 induced slowdown, UAE exhibited resilience and leadership in tough times by issuing 665,246 business licenses in the first half of 2020 compared to 652,885 licenses issued in December 2019.
The number provided by National Economic Register (NER) showed a 1.9 percent increase in business license issuance when compared to a similar period ending in December 2019.
The figures provided by the NER suggests a rise in issuance of licenses in the country in the coming months, which will support the overall growth of the national economy despite the slowdown in many regional and global economies.
The register, managed by the Ministry of Economy, is a federal e-platform that was established as part of the Government Accelerators initiatives. The initiative strives to establish UAE’s stature as a pioneering country in adopting knowledge-based economic tools, by providing accurate, comprehensive and immediate data on issued business licenses.
Key highlights
Over 81 percent of licensed businesses are located in Dubai, Abu Dhabi and Sharjah.
46 percent of the country’s total licensed businesses are based in Dubai followed by 23 percent at Abu Dhabi and 14 percent at Sharjah.
40 percent of the licenses were issued for limited liability companies while individual companies accounting for 33 percent.
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