Dubai marks 83% growth in DED Trader licences in first half of 2020

iStock

Dubai has recorded an 83 per cent year-on-year increase surge in the number of DED Trader licences issued in the first six months of 2020.

According to the Dubai Economy, 1,947 new businesses were issued licences till June, up from 1,064 during the same period last year.

The DED Trader licences issued in the month of June reached 577, marking an increase of 163 per cent compared to the same time last year, when 219 were issued.

The Dubai Economy launched the DED Trader licence to enable start-ups in the Emirate to conduct business activities online and across social networking accounts.

The licensee are not allowed to open a shop but can avail of three employment visas if the ownership is 100 per cent Emirati and legal liability falls under the licence holder.

The licence is issued electronically via the dedtrader.ae website. It also offers Dubai Chamber membership, bank facilities, temporary employment services, customs client code, participation in exhibitions and conferences, access to training workshops and the provision of workspace.

More from Business News

  • IDC 2025 discusses global disruptions, defence preparedness

    The International Defence Conference 2025 commenced on Sunday at Emirates Palace in Abu Dhabi, bringing together defence and security leaders, experts, and companies from around the world to discuss key challenges and opportunities in the sector.

  • Dubai Energy Council reviews carbon emissions progress

    Ahmed bin Saeed chaired the Dubai Supreme Council of Energy meeting on Sunday, which reviewed progress in carbon emission reduction technologies in alignment with the UAE’s Net Zero 2050 Strategy and the Dubai Carbon Abatement Strategy 2030.

  • OpenAI board rejects Musk's $97.4 billion offer

    OpenAI has rejected a $97.4 billion (AED 357 billion) bid from a consortium led by billionaire Elon Musk for the ChatGPT maker, saying the startup is not for sale and that any future bid would be disingenuous.

  • AD Ports Group reports net profit of AED 1.78 bln

    AD Ports Group has announced its preliminary unaudited financial results for the fourth quarter and full year ending December 2024, and saw revenue increase 48 per cent year-on-year (YoY) to AED 17.29 billion.

On Virgin Radio today

  • Non Stop Hits

    Midnight - 6:00am

    The UAE's #1 Hit Music Station with no interruptions

  • The Kris Fade Show

    6:00am - 10:00am

    Kris, Priti and Rossi host the UAE's biggest radio show. It's full of fun, laughs and it's Where The Stars Live.

Trending on Virgin Radio