Ajman, UAE-- The Department of Economic Development in Ajman (Ajman DED) has reported an 11 percent growth in the total number of economic licenses issued during the third quarter of 2023. According to a report published by Ajman DED, professional licenses came in first place with 51% of the total...

RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Industry and Mineral Resources announced issuing 174 new industrial licenses in September, at a total value of US$1.4 billion (SAR 5.3 billion).  A total of 82 factories started actual production in September, with total investments of US$506 million (SAR 1.9 billion), the...

Riyadh, Saudi Arabia - Saudi Arabia has so far issued 162 regional center licenses to the companies relocating their headquarters to the Kingdom, Saudi ministry of finances said. The Regional Headquarters Program, a collaborative effort spearheaded by the Ministry of Investment and the Royal Commission for Riyadh, is working diligently...

Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) licensed “Alhulul AlMubassatah Financial Company (SiFi)" to provide E-wallet solutions.  With SiFi, there are now 25 licensed companies offering payment services in Saudi Arabia, in addition to 7 companies that have obtained initial approval to operate within SAMA's regulatory sandbox. SAMA...

SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses to obtain their licenses within just 45 minutes across an extensive selection of 1,500 business activities to choose from. Aspiring business owners, especially those in the publishing, creative sectors, and...

Ajman, UAE -- The emirate of Ajman has issued a total of 1,483 business licenses during the first quarter of 2023, showing a growth of 13 percent compared to Q1 2022, the Department of Economic Development in Ajman (Ajman DED) said. Import and export, retail perfumes, general trade, and wholesale...

Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a survey has said. The survey conducted by NAMA Women Advancement, in partnership with UN Women, found that of the 1,000 female business owners who took part in the survey, 48.8...

Riyadh, Saudi Arabia—Saudi Arabia has issued permits for non-oil industrial projects worth $1.1 billion in August. The licenses issued in August were for chemicals, metals, machinery, furniture, home appliances and other light-medium products. Around 115 licenses were issued for non-oil industrial projects — 20 percent higher than those issued in...

Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according to a statement. Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses, according to the Ministry’s National Industries...

Abu Dhabi, UAE-- The registration of 136 new industrial licenses in the first half of 2022 points to a strong growth of Abu Dhabi's industrial sector, according to the Industrial Development Bureau (IBD), which is part of the Abu Dhabi Department of Economic Development (ADDED). The number of  licenses transitioning to...

The department's report highlighted the fact that professional licenses accounted for 49 percent of total numbering 8,986, followed by commercial licenses, which accounted for 48 percent at 8,8829, then by industrial licenses.

The Department of Economic Development in Ajman (Ajman DED) has said the number of new economic licenses grew by 16 percent, from 2,271 licenses in the first half of 2021 to 2,637 licenses in H1 2022. According to the H1 2022 business movement report, the number of new professional licenses...

A total of 32,564 Instant Licenses have been issued by the Business Registration and Licensing (BRL) unit at the Department of Economy and Tourism (DET) in Dubai since the launch of the initiative in August 2017. While 59 percent of these licenses were professional, 41 percent were commercial. Instant licenses...

Abu Dhabi issued 25,427 new economic licenses in 2021, an increase of 21.5 percent compared to the 2020 figure of 20,925, according to the 2021 Business Activity Report published by the Abu Dhabi Business Center at the Abu Dhabi Department of Economic Development (ADDED) . The report said that renewed...

Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, according to media reports.

Dubai issued 72,152 new business licenses in 2021, a growth of 69 percent compared to 2020 when 42,729 licenses were issued. According to the official data, 59 percent of new business licenses issued in 2021 were professional and 41 percent were commercial. Bur Dubai accounted for the largest share (48,562)...

Pepsico, Deloite, Siemens, Haliburton, KPMG, PwC, Novartis and OYO are among the companies that will establish their regional headquarters in Riyadh.

Sharjah Economic Development Department (SEDD) has processed 14,210 licenses submitted through its smart applications on its website as well as service centers during the third quarter of 2021. Of the 14,210 licenses, 1,473 were issued licenses and the 12,737 renewed ones. SEDD data said commercial licenses took the lead with...

The growth reflects the ease of doing business in the Emirate and the government's measures to simplify procedures for businesses.

The project promotes local industrial investment in key sectors such as medical, food, steel, cement.

Following a 2018 reform in the Kingdom that allowed for a first time the 100 percent foreign ownership of companies, 59 percent of new investment projects in Q1 2021 were full foreign ownership, with the remainder being joint ventures with local investors.

New license for professionals to be issued by ADDED allows 100 foreign ownership of a business. ADDED also highlighted that opening a commercial branch without prejudice to the professional license or its features could be possible if the commercial activity is consistent with or complementary to the professional activity.

Discussions with stakeholders helped the Abu Dhabi government identify and remove duplicate requirements and modify existing requirements to facilitate the process, ADDED said.

Bulk of licenses issued to building maintenance activities, restaurants import and export, retail of canned and preserved foodstuffs.

Number of businesses operating in Business Bay reach 17,893 General trade tops the list of licenses activities   The number of businesses operating in the Business Bay has reached 17,893, the majority of which are commercial, said a report. Of these, 69 percent are Commercial (12,352), followed by Professional (29...

Saudi cabinet authorizes finance minister to issue licenses Last year, the Saudi Central Bank (SAMA) licensed 16 financial technology companies to provide payment services Saudi Arabia’s Cabinet on Tuesday gave its nod to the Kingdom’s finance minister to issue licenses for the country’s first digital banks, the Saudi Press Agency...