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FINANCIAL NEWS
DED to launch initiative to improve Dubai’s competitiveness
25 Mar 2012
(MENAFN) Dubai’s Department of Economic Development (DED) it will bring in the 120 days hassle free license, an initiative aimed improving the process of doing business in the emirate.
The 120 days license allows a businessman or woman to start a business immediately and complete the rest of the licensing requirements, such as approvals from other government authorities concerned, within the next 120 days.
The new licensing rules will enable investors to have their licenses issued immediately from DED depending on the risk factors of the intended business activity.
DED said that business activities in Dubai have been categorized as No-Risk, Low Risk and High-Risk for the sake of evaluating the new business.
In February, DED reported a total of 14,360 business licenses were issued in Dubai in 2011, compared to 13,817 licenses issued in 2010.
According to the official data, the professional accounted for the most number of licenses with 7 percent stake, followed by the tourism sector at five percent.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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