Retail & Trading Accounts For More Than Half of Dubai's GDP
More than 60 per cent of Dubai's GDP is generated by the retail and trading sector, said Eisa Kazim, coordinator general of Dubai Service Excellence Scheme.
About 80 per cent of Dubai's employment is concentrated in the small and medium trading and retail sector.
"As of yesterday, the Department of Economic Development has issued 58,000 trade licences, 72 per cent of which belong to the trading and retail sector. The number of trade licences issued is growing 26 per cent a year," he told retailers at a gathering yesterday.
"About 80 per cent of Dubai's employment is in the small and medium sector, mostly in the retail trading services activities."
He said the government launched the Dubai Service Excellence Scheme (DSES) to support the retail, trading, tourism and service sectors by encouraging them to improve their service standards.
"Eight years ago, the Government of Dubai launched the Dubai Quality Awards, which were perceived then as serving the large corporations.
"Two years later, we launched Dubai Quality Appreciation programme for small and medium enterprises," he said. "However, retail, trading, tour-ism and service sectors from the 1990s began expanding rapidly."
If Dubai is to keep its competitive edge in a fast changing world, it cannot bank on price competitiveness only. "Dubai's service standards in the retail and trading sectors will have to be improved in order to keep a competitive edge. This is why we later introduced the DSES for the retail, trading and tourism services sector," he said.
"With the current resource strength, companies in Dubai can double their achievements. They are currently utilising only 50 per cent of their potential."
He said DSES is not an award, nor is it a certification programme. He said DSES is not an award, neither it is a certification programme.
"It is a complete scheme to improve back office operation of trading companies and their services," he said. "In the coming years, service standards are going to be of utmost importance if companies in Dubai wants to excel."
Membership of the Dubai Chamber of Commerce and Industry (DCCI), which is mandatory to all the registered companies, crossed 65,000 last year. This will be higher by the end of the year.
According to the DCCI, its total imports this year is expected to reach Dh125 billion this year. About 74 per cent of DCCI members are engaged in trading and repairing activities, eight per cent in construction, 7 per cent in transport, 5 per cent in real estate and only 3 per cent in manufacturing.
Construction sector employs 32 per cent employees, followed by 30 per cent in trading and repairing, while 17 per cent employed in manufacturing sector.
By Saifur Rahman - Gulf News
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