Trakhees issued 428 new licenses in Special Development Areas during the 2nd quarter of 2023
Wednesday, July 26, 2023
The Department of Planning and Development -Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, achieved a significant growth rate of 52% in the number of new licenses issued during the second quarter of 2023 in the special development areas under the supervision of the corporation.
Engineer Abdullah Mohammed Belhoul, the CEO of the Department of Planning and Development - Trakhees, stated that the department aims to achieve positive results in commercial growth rates in the special development zones, in line with Dubai's economic agenda. The goal is to create a business and investment-friendly climate to encourage companies to expand and grow, making Dubai the preferred destination for entrepreneurs and businesses.
During the second quarter of 2023, the department issued 428 new licenses in the special development areas, representing a growth rate of 52%.
The CEO highlighted that Dubai's International City ranked first in the list of sites with the highest number of local licenses, with 129 licenses issued. It was trailed by Jumeirah Village Circle in the subsequent position, and afterward Jumeirah Palm in the third position.
Dr. Hamad Rahma Al-Falasi the Director of Licensing Department at Trakhees emphasized the efforts of the department in achieving the corporation's goals and mission to facilitate and enhance economic transformation in Dubai. They have implemented regulatory processes and innovative solutions to ensure sustainable business activities. The number of transactions completed by the department in the field of commercial licenses during the second quarter of 2023 has grown, including a significant increase in the demand for government services provided by the Licensing Department. This included 3,515 transactions related to issuing professional health cards and 1,743 transactions for new work permits.
As for local licensing services provided by the department, there was a 33% increase in demand, reaching 4,051 transactions during the second quarter of 2023 compared to the previous year. This involved the renewal of 1,990 local licenses and the registration of 744 new trade names during the mentioned period. This was a noticeable increase of 89% compared to the same period in the previous year when only 393 trade names were registered.
Regarding free zones, Dr. Al-Falasi mentioned that there were 895 transactions related to free zones during the second quarter of the current year, including 165 registered trade names and 158 preliminary approvals for free zone licenses.
The director of the Licensing Department emphasized the efforts of the corporation, represented by the Department of Planning and Development - Trakhees, in facilitating transactions and services for entrepreneurs, companies, and individuals, aiming to make Dubai the first choice for work and investment.