More Than 500 Business Licenses Issued To Restaurant Startups In The UAE In 2019

More Than 500 Business Licenses Issued To Restaurant Startups In The UAE In 2019
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More Than 500 Business Licenses Issued To Restaurant Startups In The UAE In 2019

More than 1,000 licences licenses were issued for setting up restaurant startups and traditional desserts businesses in the UAE during the first nine months of 2019, according to the Ministry of Economy’s National Economic Register (NER).

The National Economic Register (NER) is an integrated platform between the federal and local entities and one of the government accelerators initiatives that was launched during the UAE Government Annual Meetings in 2017.

Figures from the register showed that 554 licenses were issued for setting up restaurant startups, 490 for traditional desserts businesses, state news agency WAM reported this week.

Meanwhile, 321 licenses were issued for retail perfumes businesses, 318 licenses for women’s clothing businesses, and 308 for internal building cleaning activities.

According to the NER’s figures, about 740 business licenses were also issued for project contracting activities during the same period, 615 licenses were issued to launching hot and cold beverage services, in addition to 767 general trading business licenses.

The NER platform is designed to give government entities, businesses, researchers and customers access to information about existing trade licenses, economic data, statistics, activities and reports.

The UAE economy grew by 2.2 percent in the second quarter with non-oil growth expanding 1.5 percent, compared to an official estimate of non-oil growth of 0.3 percent in Q1 by the Federal Competitiveness and Statistics Authority.

The Central Bank of the UAE recently revised its growth forecast for the economy upward to 2.4 percent for 2019, from an earlier projection of 2 percent in May this year.

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