UAE construction leads business activities acquiring licences in 2019
A total of 1,050 licences were issued by UAE’s economic departments for construction contracting businesses in 2019
The UAE construction sector has taken the lead in the Top 10 list of business activities that acquired licences in the UAE in 2019, according to the latest statistics issued by the UAE Central Bank.
Three licences were issued daily for both construction contracting and general commercial activities, following by restaurants, which acquired two licences daily, reflecting an increase after a period of slowdown, state-run news agency Wam stated.
A total of 1,050 licences were issued by local economic departments in all emirates for construction contracting businesses in 2019, while some 1,004 licences were issued to general commerce businesses.
The Top 10 list also included the transport sector, with 521 licences issued, and 390 licenses issued for building cleaning services.
The increase in business activity in these economic sectors have also encouraged the UAE’s banking system to provide more financial support to these sectors in 2019,
In addition, approximately 868 licences were issued for hot and cold drinks businesses, as well as 755 for restaurants, and 671 for dessert businesses.
A total of 6,599 licences were issued for the Top 10 business activities, accounting for 14.6% of all the licences issued for economic activities in the UAE in 2019.