UAE Projected to Add 17,000 New Brands by 2023, with a 5% Growth Rate

During the year 2023, the number of new brands in the United Arab Emirates increased by 4.85%, reaching 17,063 brands registered, compared to 16,273 brands registered in the year 2022, according to the Ministry of Economy.

The ministry’s data, released on Friday, indicates that the registered brands belong to both local and foreign companies operating within the country’s free zones, and they are distributed across hundreds of sectors and industries, including technology, oil and gas, telecommunications, electronics, investment, real estate, contracting, education, healthcare services, insurance, and general trade.

The ministry’s data also revealed that 926 new brands were registered in December of the previous year, encompassing both goods and services sectors, as well as major local and international companies.

Moreover, the sectors included electronic payment services, meta-verse, food material industry and trade, wholesale and retail trade, supply services, tourism, hospitality, agriculture, manufacturing, banks, and exchange services.

The automotive sector, along with its services and spare parts, event management, media, project management, airports, ports, and others were also included.