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Invest in Dubai platform helps create 9,181 jobs

Invest in Dubai (IID), the integrated digital business set-up platform has recorded robust growth in its use, establishing Dubai’s position as a leading global business destination for investors and entrepreneurs.

Since its launch in February by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the platform has so far issued 3,464 commercial licenses, attracted 3,746 foreign investors from 77 different countries, created 9,181 jobs across sectors and opened 87 Emirates NBD instant bank accounts.

"According to the latest data, since the launch of the IID platform in the beginning of February, the total number of business registration and licensing transactions on the platform has reached 5,747.  A total of 3,464 commercial licenses were issued, while 1,448 trade names were reserved. The number of initial approvals provided through the platform was 830 while 275 approvals were issued for starting a business,” HE Sami Al Qamzi, Director General of Dubai Economy said in a statement.

IID also licensed 485 activities. The top 15 of these activities, which represent 46% of the total include project management services, technical works and maintenance, electronic complexes, social media marketing services, engraving and decoration, installation of suspended ceilings and light partitions, perfumes and cosmetics, and tailoring and sewing of women's clothing.

HE Saif Ahmed Al Suwaidi, Undersecretary of the Ministry of Human Resources and Emiratisation (MOHRE) for Human Resources Affairs, said, “MOHRE helped facilitate the creation of new jobs through the Invest in Dubai platform. The latest data showed that 9,181 jobs were created by businesses for whom licences were issued, based on the link with the Ministry on IID”.

Meanwhile, HE Major General Mohammed Ahmed Al Marri, Director General, General Directorate of Residency and Foreigners Affairs in Dubai, said, “The latest statistics showed that IID attracted 3,746 investors representing 77 different countries, while 10 nationalities accounted for 90% of the total number of foreign investors, which include British, Russian, French, Jordanian, Egyptian, Indian, Pakistani, and Filipino.

Several additional services for commercial licences, amendments to licences, opening of bank accounts in a wider set of banks, renewing commercial licences, and opening traffic files for vehicles are some of the upgrades planned for the platform.

The growth of the platform is in alignment with the goal of the General Secretariat of The Executive Council of Dubai to ensure the smooth integration of government operations in line with the leadership’s objective of ensuring high global standards in facilitating business activity. The 'Invest in Dubai' platform contributes to unifying, facilitating, and speeding up business set-up procedures effortlessly, serving investors and business leaders.

The platform contains interactive tools including a 'Dubai Business Map' that allows investors to search for opportunities within specific commercial zones and the city's free zones. It also has sector reports and statistics on foreign direct investment, as well as tools to search trade names and to obtain trade licences for more than 2,000 commercial activities.

It allows potential investors to begin the process of setting up businesses by securing labour quotas, notarising contracts and gaining membership of the Dubai Chamber of Commerce and Industry, among other things.