7 September, 2021

How Dubai Proves its Economic Resilience in the Pandemic?

dubai economic resilience

Despite the tough global climate, Dubai has once again demonstrated its economic resilience by posting a robust 63 per cent year-on-year growth in Trader Licences in the first half of this year.

Dubai Economy stated on Saturday that it awarded 3,243 trader licences in the first half of 2021, up from 1,989 in the same period the previous year. Since March 2017, it has awarded 13,430 licences, demonstrating the department’s support for e-commerce in the emirate.

The trader’s licence idea, according to Atik Munshi, managing partner at Enterprise House, has been warmly accepted by start-ups and small firms looking to enter the Dubai market.

The DED Trader licence, which was introduced by Dubai Economy’s Commercial Registration and Licensing (BRL) sector, enables freelancers and start-ups to perform business operations online and through social media accounts. It also demonstrates Dubai Economy’s dedication to realising the government’s objective of driving digital transformation and supporting e-platforms that enable commercial operations, as well as its focus on boosting e-commerce and economic competitiveness.

Males accounted for the greatest proportion (63%) of total DED Trader licences awarded during the first half, according to the BRL sector’s report. It was discovered that readymade clothes, women tailoring and design, handicraft workshops, gents tailoring and design, food preparation, commercial brokerage, exhibits, and other professional services topped the list of activities for which licences were given.

By following a few easy procedures on the invest.dubai.ae portal, you may get the DED Trader online. Dubai Economy aims to regulate and improve the convenience of conducting business electronically through DED Trader, as well as provide a platform that supports and develops trade and links clients with traders. The licensee is not allowed to operate a shop or business, but he or she is eligible for three visas provided the licensee’s ownership is 100 percent Emirati and the licence holder bears full legal responsibility.

Dubai Economy focuses on assisting DED Trader licence holders by forming relationships with the government and private sector, providing facilities for their company growth, and expanding their distribution channels through strengthening collaboration with key retail locations.

Through its Mahali digital store, Dubai Economy teamed with noon.com, the region’s top domestic digital marketplace, to connect local companies with clients around the region.

Mahali by noon.com is a programme that provides digital business help and experience to Emirati companies, allowing them to build their enterprises online.

Dubai Economy has also worked with MyFatoorah to allow e-payments for DED Trader licence transactions; talabat to display and sell food items on its platform; and ‘Akshaak’ to exhibit and sell DED Trader licence holders’ products online for free.

Membership in the Dubai Chamber of Commerce for commercial activities, bank facilities; Customs Client Code for import and export via dubaitrade.ae; temporary employment services; participation in exhibitions, conferences, and training workshops; displaying products in consumer points of sale; and providing work space are all advantages of obtaining a DED Trader licence.

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