Increase in trade licences indicate improvement in investor confidence
Dubai: The Department of Economic Development (DED) in Dubai registered a 14 per cent increase in the number of trade licences issued last month compared to the same period last year, DED announced on Monday.
With a total of 1,542 licences issued in May the tourism sector accounted for the highest increase in the number of licences with 57 per cent followed by professional ones with 19 per cent and commercial, 13 per cent.
However, commercial licences which lead the list accounted for 73 per cent of the total followed by professional ones with 25 per cent while industrial and tourism accounted for 1 per cent each.
The rise in the number of licences indicates a higher level of interest in commercial and professional activities among businessmen and investors in Dubai.