Trakhees achieves 40% growth in the first quarter of 2022

Thursday, April 21, 2022

The Department of Planning and Development - Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation in Dubai, achieved a remarkable growth during the first quarter of 2022, represented in the completing more than 8,000 transactions through the Licensing Department of Trakhees, with a growth rate of 40% compared to same period in 2021. Eng. Abdulla Belhoul, CEO of the Department of Planning and Development - Trakhees, confirmed that Trakhees is seeking this year to achieve positive growth rates in the commercial licensing sectors in its special development areas under its jurisdiction, pointing to the tireless efforts made by the Licensing Department in the field of sustainable economy to enhance the process of economic growth. Belhoul pointed out the keenness of the Trakhees Department 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 national economy, that contributes to making Dubai a preferred global destination for investment. Belhoul added: "By adopting a culture of excellence in performance to ensure happiness and satisfaction of customers, Trakhees pursues a strategic vision that aims to develop and expand services for the benefit of individuals and companies, and consolidate the unique position that Dubai occupies in the field of business”. The statistics, issued by the Department of Planning and Development - Trakhees, indicated a growth in the percentage of demand for Federal Law Licenses services by the department’s customers, both individuals and companies, by 53% to reach 4,010 transactions during the first three months of 2022, where the licenses renewal service ranked the first with 1788 transactions, a growth rate of 52%, followed by the service of modifying licenses with 731 transactions and a growth rate of 215%. In this regard, Belhoul explained that the Trakhees Department is keen to support and accelerate the pace of business by providing the required services regarding small and medium projects and establishments, pointing out that more than 550 new commercial names have been reserved during the first quarter of 2022 in the special development areas that fall under the jurisdiction of the Ports, Customs and Free Zone Corporation with a growth rate of 35% compared to the same period last year. Regarding Government Services Transactions, the reports indicated that the number of government transactions increased by 40% during the first quarter of 2022, which was accompanied by a growth in the number of work permits issued by the department by 84% over the same period last year, reaching 1,720 work permits approved in Dubai, compared to 936 last year, the Employment Visa Renewal service was also elevated, with a growth rate of 22%, through 736 transactions, as well as the Employment Visa Amendment service, by 103 transactions, with a growth rate of 178%. Belhoul explained: "In total, the International City ranked first in the list of sites that obtained Federal Law Licensing transactions with 163 licenses, then Al Barsha (South) came in second place, followed by the Dragon Market, then Palm Jumeirah and Palm Deira." Belhoul added that the Trakhees Department aspires to enhance the first position occupied by the UAE in the Global Entrepreneurship Index 2022, as it is the best entity to establish and start businesses, stressing that the Trakhees Department will continue to assist the work teams and in cooperation with various partners towards improving and developing the level of services it provides, such as the issuance of commercial licenses and work permits, and other incentives and facilities that ensure keeping pace with the aspirations of business leaders and investors.