Commercial Licensing Transactions grew by 50% during 9 months in 2022

Tuesday, November 15, 2022

The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has succeeded in executing more than 24,000 transactions through the Licensing Department at Trakhees during the first nine months of 2022, with a growth rate of 50% compared to the same period last year. Eng. Abdulla Belhoul, CEO of the Department of Planning and Development - Trakhees, explained that the Trakhees is keen to implement the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to support the economy and enhance Dubai's position as a global destination distinguished with investment atraction and as business capital hub, he added: "Acknowledging the strong infrastructure and the efforts of specialized work teams and in cooperation with various partners, the department looks forward to developing and expanding the services it provides for the benefit of individuals and companies, such as issuing commercial licenses, issuing work permits, and others, in order to keep pace with the aspirations of business leaders and investors in the emirate”. Abdulla Belhoul confirmed that the Trakhees has achieved remarkable growth in the level of business activity with regard to all services provided by the department's Licensing Department in the commercial licensing sectors in its special development zones, noting that Trakhees department is working to achieve the vision of the Ports, Customs and Free Zone Corporation, which is to enhance Dubai's position as a leading sustainable hub for supporting the economic sector globally. Abdulla Belhoul added: “Takhrees Department provides an ideal business environment for investors and entrepreneurs regarding the services required for all small and medium-sized enterprises and establishments according to the highest standards, as the department received during the first nine months of 2022 more than 24,000 transactions at the level of local licenses and free zone licenses in different regions. The private development that falls under the supervision of the Ports, Customs and Free Zone Corporation. The official statistics issued by the Department's Licensing Department indicated the growth in the rate of demand for local licensing services by the department's customers, both individuals and companies, to reach about 9,000 transactions since January this year, where the local licenses renewal service ranked first with 6754 transactions, followed by the service of amending local licenses with 1,394 transactions, then booking a new trade name, which amounted to 1,372 transactions. In the same context, International City ranked first in the list of sites that obtained local licensing transactions with 139 licenses, then came Jumeirah Village Circle, followed by Palm Jumeirah, and Dragon Mart. At the level of the service of applying for free zone licenses that fall under the supervision of the Trakhees Department, the service of renewing free zone licenses ranked first in the list of services requested by customers in this specialty, reaching 837 transactions during the first nine months of this year, followed by issuance of a commercial permit with 336 transactions. At the level of government services transactions, the statistics indicated a growth in the number of government transactions from the beginning of the year until the end of September 2022, which was accompanied by a growth in the number of work permits issued by the department, reaching 6,227 work permits approved in Dubai, and 1,772 transactions related to the working permits were completed. Abdulla Belhoul stressed that the remarkable growth rates achieved by the Department of Planning and Development - Trakhees during this period of this year reflect the efforts exerted towards implementing a package of procedures and improvements to issue commercial licenses to empower the business community and preserve the economic landscape in Dubai.