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UAE accounts for 86% of GCC licences for economic activities

The number of licences granted to citizens of the GCC to operate a variety of businesses surged to 40,753 licences in 2013, compared with 11,095 licences at the end of 2004, an increase of 267 per cent.

Riyadh: The UAE scored the highest cumulative increase in the issuing of licences to GCC citizens, granting some 35,006 licences in 2013, accounting for 86 per cent of the total licences granted to the GCC to run businesses.

The number of licences granted to citizens of the GCC to operate a variety of businesses surged to 40,753 licences in 2013, compared with 11,095 licences at the end of 2004, an increase of 267 per cent.

According to a report prepared by the information sector of the GCC General Secretariat, Kuwait was ranked second with 3,453 licences, accounting for eight per cent, Bahrain came in third place with 1,118 licences at three per cent and Saudi Arabia granted 494 licences.

The number of licences issued by Oman was 426 licences, while Qatar was granted 256 licences.

Citizens of Saudi Arabia topped the list in number of licences obtained for operating businesses in other member states, with 18,658 licences representing 46 per cent of the total issued licences, followed by the citizens of Kuwait, who received 6,851 licences representing 17 per cent.

The citizens of Oman received 6,081 licences, representing 15 per cent of the total licences, while the citizens of Bahrain were issued 5,948 licences, representing 14 per cent of the total licences. Qataris and Emiratis followed with six per cent and two per cent, respectively.