Indians lead top 10 nationalities making an investment in Dubai’s gold area

The gold and jewelry area provides residents of Dubai with gold imports from about 30 countries.
Indians lead the top 10 nationalities investing in Dubai’s gold zone, followed by Pakistan, Britain, Saudi Arabia, Switzerland, Oman, Jordan, Belgium, Yemen, and Canada.

As many as four,086 groups operate in the gold zone in Dubai, and the wide variety of buyers stands at 62,125, such as 60,012 business people and a pair of 113 businesswomen, the Business Registration and Licensing (BRL) sector in the Department of Economic Development (DED) stated in its record.

The document consists of statistics on the various agencies working in Dubai, the activities of the gold marketplace region, and the distribution of the corporations across the emirate.

A statement from the DED stated that it aims to familiarise marketers with the gold area and spotlight its position in adding fees to the economic system.

Indians lead top 10 nationalities making an investment in Dubai’s gold area 1

Of the 4,086 groups, 2,498 licenses were issued for ‘Jewellery and jewels of gold and silver, 1,184 for change in ‘Gold and precious metals, 392 for ‘Goldsmiths and treasured jewelry’, seven for ‘Gold foundry and precious metals, and 5 for ‘Gold liquidation’ interest, it stated.

The overall gold, jewelry, and diamond sales reached 274 billion dirhams ultimate year, a growth of about 3 compared to 2017, in line with the Dubai Gold and Jewellery Group.

The UAE’s exchange in gold and precious stones has also grown significantly in current years, and its overseas exchange in this quarter is predicted at about 400 billion dirhams yearly.

The import of gold changed worth 142.4 billion dirhams, while the cost of exports amounted to seventy-five. The price of re-exports to 26 billion dirhams is nine billion dirhams, consistent with the Federal Customs Authority.

The gold and jewelry sector provides the citizens of Dubai with gold imports from about 30 countries. This additionally meets the call for vacationers who visit Dubai.

Duane Simpson

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