22% growth in commercial licensing business in the first half of 2022

  • 2 years ago
  • News
  • 0

DUBAI, 16th August 2022 (WAM) — The Department of Planning and Development – Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, completed about 16,000 transactions through its Licencing Department during the first half of 2022, registering a growth of 22 percent as against the same period last year.

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

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 licensing sectors in its private development areas.

He noted 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.

Belhoul pointed out the keenness of the Trakhees to implement the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to support the economy and enhance Dubai’s position as a preferred global investment destination. 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 licenses, 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 licenses, 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 licensing 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.

WAM/ /Esraa Ismail/Lina ibrahim

Join The Discussion

Compare listings