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25% Growth Rate of New Licenses Announced by RAKDED


Wednesday 5 December 2018

The Number of issued licenses in 2018 has increased as reported by Department of Economic Development. New licenses number rose by 25% through the period of September, October and November in 2018 compared to the same period in 2017, whereas the renewed licenses rose by 12% for the same period. These are unprecedented rates, which witnessed kind of slackness previously. Dr. Abdulrahman Alshayeb Alnaqbi, Director General of RAKDED, said that DED sought in 2018 to adopt a number of initiatives, and to launch a group of incentives to improve business environment, as well as, to help the private sector overcoming the previous year challenges that arose from general developments globally and regionally. These initiatives and incentives contributed enormously in bringing back the momentum of economic licenses issuing process. One of the most important of these initiatives was participating in Bashr Federal Initiative, which was launched by Telecommunications Regulatory Authority (TRA). Bashr helps investors to issue their licenses online within 15 minutes. Another initiative was “Tasaheel 1” which resulted in exempting citizens from local fees of issuing a general trade license, starting to license mobile vehicles, and licensing business centers. A number of incentives were launched, too, which led to allow issuing 3 trade licenses in one site, extending operating hours to 24 hours for the same current fees, increasing AL Ghad license activities practiced at home to 34 activities, and supporting the economic licenses whose activities are affected by infrastructure works carried out by local governmental authorities. Dr. Alnaqbi confirmed that RAKDED is determined to provide more support and attention to all investors and companies owners in order to create an appropriate business environment, and allow them to unleash their energies in business and production in all economic sectors. He also emphasized that the Department pays special attention to investors and youth entrepreneurs of citizens, and works to achieve business and success to their innovating and pioneering enterprises.

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