Trakhees
Trakhees completes more than 43,000 in 2021
Wednesday, February 09, 2022
The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation in Dubai, succeeded in completing more than 43,000 transactions through the Licensing Department during 2021, with a growth rate of 16% compared to 2020, when about 37,000 transactions were completed. It relates to government services and licensing services for both Federal Law and Free Zone Law.
Eng. Abdulla Belhoul, CEO of the Department of Planning and Development - Trakhees, stated that the department fostered during 2021 the mechanism for completing the relevant transactions in the Emirate of Dubai by adopting a culture of excellence in performance to ensure the happiness and satisfaction of customers, stressing that the continuous improvement initiatives launched by Trakhees aim to develop and expand services for the benefit of individuals and companies, and consolidating the unique position that Dubai occupies in the field of business, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may Allah protect him, aiming at making Dubai a preferred global destination for investment.
Belhoul stressed that these trends and initiatives contributed to stimulating economic growth and enhancing the attractiveness of the business environment to investors in the Emirate. As a result, the base of Trakhees customers grew in 2021 to reach 2,070 customers, with an increase of 117%, referring that Trakhees is keen to intensify its efforts in order to provide all forms of support that guarantee the facilitation of doing business, and to enable companies to take full advantage of the exceptional components and competitive advantages for free zones that come under the supervision of the Ports, Customs and Free Zone Corporation, as an ideal environment for incubating various economic activities and running business in Dubai.
With regard to Federal Law Licensing services, the CEO explained that 12,482 transactions were completed in 2021, compared to 9,981 transactions during 2020, which reflects an increase in the growth rate with 25%, adding that 1,364 new Federal Law licenses were issued during the past year, compared to 813 licenses in 2020, with a growth rate of 68%, and more than 1,800 new trade names were reserved in the special development areas under the supervision of the Ports, Customs and Free Zone Corporation, with a growth rate of 92% compared to 2020.
Belhoul explained: “In total, about 53% of the total Federal Law Licenses were issued to the International City with 727 licenses, then came the Jumeirah Village, followed by the Dragon Market, then the Palm Deira, followed by the Palm Jumeirah”.
In parallel, the total number of transactions related to Free Zone services increased during 2021, reaching 6148 transactions, compared to 4,641 transactions in 2020, with a growth rate of 32%, as 488 new licenses were issued under the Free Zone Law System, with a growth rate of 123% over 2020, also 1226 licenses were renewed and 318 licenses were amended by the Free Zone Law system during the past year.
Regarding government services transactions, the CEO pointed out that the growth in the number of transactions and permits at the level of the Trakhees Department was accompanied by a growth in work permits issued by the department, reaching 6884 Work Permits approved in Dubai during 2021, compared to 2460 Work Permits issued during 2020, with a growth rate of 180%.
The transactions related to issuing the Establishment Card in the free zones under the supervision of Trakhees reached 249 transactions during the past year, compared to 59 transactions during 2020, and this achieved a growth rate of 322%.
Belhoul added that the Trakhees Department aspires during 2022 to achieve a series of positive results at the level of services provided by the department, such as issuing commercial licenses, issuing work permits, and other services, stressing that the department's efforts come as a continuation of the elements and incentives provided by Dubai to ensure continuity and sustainability of businesses.