Despite the tough global climate, Dubai has once again demonstrated its economic strength 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.
Small and medium businesses (SMEs) make up the backbone of the UAE economy, accounting for 95 percent of all businesses in Dubai. These small and medium-sized firms employ 42 percent of Dubai’s workers and create roughly 40 percent of the economy’s overall value add.