People shop at Naif, Dubai.
Gulf Today Report
A recent report by the Business Registration & Licensing (BRL) sector of Dubai Economy shows that the Naif locality in Dubai has over 12,478 active operating business licences. Of these, 86% of the licences are commercial (10,702), followed by professional (1,578), tourist and industrial licences.
According to the report, most of the businesses have been operating in Naif since 1963. In fact, 49 licences were issued in 1963 and these companies are still conducting various activities such as Jewellery, Gold & Silver; Food & Beverages; Phone Electronics; General Trade, Tools and Household Utensils; Artifacts; Watches and Spare parts; Perfume & Cosmetics; Garments; Handbags & Leather products; Dye & Paints; and Flooring and Wall Tiling.
The figures underline the interest of entrepreneurs to operate in 'Naif' due to its strategic location close to the airport, ports and major commercial centres. Naif is an important destination for retail trade in Dubai, and a leading tourist destination with its traditional markets, and archaeological and heritage areas.
Dubai Economy aims to establish an attractive economic environment for businesses by developing its business registration and licensing services including the issuance and renewal of commercial licences, which contribute to the ease of starting and doing business in Dubai. This is in line with the government’s directive to promote a knowledge-based economy, drive sustainable economic growth and open fields and activities to entrepreneurs.
The BRL sector continuously launches varied initiatives to facilitate business start-up, business registration, adoption of new e-services, as well as value-added services for licensed business owners, which reflect positively on Dubai's competitiveness as a hub for regional and global companies. BLR enables entrepreneurs to start and expand their businesses without the need for lengthy processes and procedures.
As per the report, the total number of stakeholders in the active companies operating in Naif reached 49,718 including 45,161 males.
The chief legal forms of the companies operating in Naif are Limited Liability Company (9,734 licences) and Sole Proprietorship (2,043). In addition, the locality also has Civil Companies, One-Person Limited Liability Company, Branches of companies based in other Emirates, General Partnership, Branches of Free Zone Companies, Branches of Gulf Companies, Branches of Foreign Companies, Public Shareholding Companies, Limited Partnership and Public Shareholding Companies.
Dubai Economy continues its efforts along with the private sector to drive sustainable development and create a healthy and safe competitive environment, by developing suitable frameworks, applying best practices, and keeping abreast of everything new to meet the requirements of businessmen and improve the performance of vital sectors in Dubai.
Naif Souq is one of the oldest markets in Dubai. It has about 100 stores offering fabrics and leather products, tech and electronics appliances, souvenirs and other goods that meet the requirements of all segments of the society.
Businesses and healthcare providers in the UAE looking for an easier way to source and secure personal protective equipment (PPE) can now do so through Dubai Chamber of Commerce and Industry’s newly launched Response Initiative (RRI).
The new ecommerce platform is an initiative that will facilitate small and medium businesses to sell their products online providing a healthy competition with big ecommerce players, which will provide customers a unique and pleasant online shopping experience.
Nakheel’s customers include property owners, retail and hospitality tenants and small business operators. The package includes free rental periods for retail and hospitality partners who operate within the Nakheel Malls portfolio.
During COP28 in Dubai on Tuesday, global green energy giants Iberdrola and Masdar announced a €15 billion strategic partnership agreement to evaluate the joint development of offshore wind and green hydrogen projects in key markets including Germany, UK and the USA.
The 44th edition of Big 5 Global, the largest and most influential construction industry event in the Middle East Africa and South Asia opened in Dubai World Trade Centre. The event boasts a stronger and more impactful local and international support, with over 2,200 exhibitors from 60+ countries
Sustainable Trade Africa (STA) takes pride in successfully concluding its pivotal event, contributing significantly to the discourse on sustainable development within the African trade landscape during COP28. Under the theme “Transforming Africa Trade for Climate Resilience & Sustainable
The Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) continued to signal a rapid expansion in the non-oil private sector in November, despite evidence that price pressures accelerated to their highest in nearly one-and-a-half years. Reports of increased raw material prices fuelled a renewed uplift