Hamdan bin Mohammed: Dubai’s economy has proven to recover quickly

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Dubai (Etihad)

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, emphasized the strength and continuity of the emirate’s ambitious economic growth and the successful management of the effects of the global crisis caused by the Corona virus (Covid-19) pandemic, which has affected the economies of the countries of the world. Thanks to the rapid economic adjustment to the changes imposed by the pandemic, and the speed of the government in adopting and modifying appropriate economic policies and applying them on the ground to accelerate the pace of economic growth, the cost of business, and economic stimulus packages that have helped to boost investor and business confidence in the promising prospects of the diversified national economy.
This came during the launch of the semi-annual report on business movements, published by the Commercial Registration and Licensing Sector of the Department of Economic Development, which revealed numbers and growth rates that are the highest in the history of the Emirate of Dubai, at the level of the number of commercial licenses issued by the emirate at a rate significantly ahead of the pre-global pandemic stage In the first half of 2021, 31,000 new licenses were issued, a 77% growth compared to the same period of 2020, when 17,478 licenses were issued were issued.

  • Side of Dubai City (Al Ittihad)

His Highness the Crown Prince of Dubai said: “The strong business growth demonstrates the extent of Dubai’s ability to turn challenges into achievements, in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and his belief that a successful crisis management creates opportunities.Thanks to His Highness’s vision, Dubai has been successful in managing the crisis caused by the (Covid 19) pandemic, and allowed us to once again embark on the path of escalating recovery, confirming Dubai’s value as a global city and the best destination in the world to live and work.”
His Highness pointed out that the accession of different nationalities confirms the constant willingness of the wise leadership to create a distinctive investment climate that is transparent, offers many different options for investment in different sectors, embraces it for local and foreign companies in the private sector sector, and an ideal opportunity to do business with ease, backed by the security and security that the country enjoys. The United Arab Emirates .
His Highness added: “By reaching these numbers in Dubai in a way that goes beyond the pre-pandemic stage, we are in a race against time, to work together to strengthen Dubai’s position as an incubator for entrepreneurs and a center for giant international companies in the region, starting from discovering new opportunities for investors that meet the requirements of their future plans, to identifying innovative development paths that would achieve Dubai’s global leadership in all areas.”
Dubai Economy Director General Sami Al Qamzi emphasized that the remarkable growth in business licenses that Dubai has seen in the first half of 2021 is a testament to the resilience and sustainability of the emirate’s economy.
His Excellency Al Qamzi said: “We are working to realize the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, by removing obstacles and facilitating all procedures for investors to consolidate Dubai’s position as a global investment destination and the best choice for investors.”.
He added: “Dubai has managed to consolidate its economic fundamentals, vision for the future and ambition to meet challenges, maintain a healthy growth rate and achieve the desired transformation to a digital economy. It also confirms the confidence that investors and business executives have. showing the potential for growth in various sectors in the emirate.”

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