Business owners are demanding a review of 16 drawings and fines in Abu Dhabi

Entrepreneurs and owners of small and medium-sized companies in Abu Dhabi have asked the competent authorities to review 16 fees and fines between Mahali and Federal to stimulate the market and attract more investments.

Economists told Emirates Today that over the years, Abu Dhabi and the UAE are generally favored investment destinations, a reputation that must be maintained by conducting periodical reviews of the cost of business, ensuring competitiveness of products and services, and supporting attracting investments.

They suggested not to impose any new fees during the coming period, and to facilitate the payment of fines and fees in installments, and that the fees for small projects for the first two years to be canceled to encourage them.

According to the latest statistics of the Ministry of Economy, the number of small and medium-sized companies in the UAE to 350 thousand companies contribute about 62% of non-oil GDP, and employs about 85% of the workforce in the UAE.

Business owners

In detail, entrepreneurs and business owners told Emirates Today, who preferred not to be named, said they had established their business for years, made good profits, and were able to expand their business activities. Being an open market and the largest trading center in the region.

They pointed out that the number of current fees incurred by the business needs to be revised, in order to recover the global demand and the cycle of the economy to revive, and provided «Emirates Today» models of these fees borne by the business, and the number of 16 fees and a fine delay.

Facilities and incentives

Hamad Almas, Executive Director of International Relations at the Department of Economic Development, Hamad Almas, said that many of the facilities offered to the Abu Dhabi business community are indirect incentives such as advanced infrastructure, the Abu Dhabi Global Market as a financial center, and the ease of conversion. Money, security, pointing out that all these things contribute to attract investment and stability.

He told «UAE Today», on the sidelines of the «UAE-Lebanese Investment Forum» held in Abu Dhabi recently,

The percentage of licenses has increased, and other things are being improved, which are announced when they are completed in partnership with the private sector.

He pointed to the initiatives that have been announced, and are currently being implemented, namely: «Tomorrow 21», and facilitate the licenses, and the Office of investment attraction, pointing out that the challenge for companies in terms of fees, is the existence of local and federal fees, and this file is working on It is currently being addressed, supporting entrepreneurs and enhancing the emirate's competitiveness.

Installment fees

A member of the Abu Dhabi Chamber of Commerce and Industry, who declined to be named, said investment returns in the UAE are rewarding and remain the largest in the region despite the global economic conditions.

He added that the medium and large companies do not have problems with regard to the existence of fees, they are for services and are applicable in investment destinations around the world, but the fees in the UAE among the least.

He pointed out that small companies may need support in this matter, noting that «this is what we do in the Association of Entrepreneurs, and Abu Dhabi Chamber of Commerce and Industry, where they are communicating with government agencies to overcome obstacles, and reduce the cost of business». Some economic circles had allowed fee payments, a proposal that could be suitable for many companies.

The source stressed the role of the employer, which is to try to open markets for its products, think outside the fund, and work hard to study the requirements of the market, pointing out that this improves income and raises the return on investment, the employer does not feel the burden of paying the fees for renewal License or otherwise.

Cancellation of fees

Abu Dhabi Chamber of Commerce and Industry Board member, Reid Al Dhaheri, suggested that the fees for small projects should be canceled for the first two years in order to encourage them and then collect 50% of the fees for another two years, thus enabling these businesses to establish their presence in the market. Experiences and returns enable it to continue.

Al Dhaheri stressed that there are positive government decisions taken over the past months, but the speed of business needs more, especially as the private sector in the UAE is strong, and works in accordance with market mechanisms, and always needs to review the procedures parallel to its dynamics.

Essential partner

Radwa Radwan, an economist, told Emirates Today that the UAE is one of the countries that focus on the private sector and considers it a key partner in development.

She added that the number of small companies in Abu Dhabi is large, and it is very important to hold serious meetings periodically to find out their problems, especially the subject of fees.

Radwan pointed out that the conditions of the global economy are unfavorable, therefore, it is important not to impose any new fees during the coming period, and facilitate the payment of fines and fees, and lift them from those companies that add value to the economy of the Emirate, or have a large number of labor, which means they Provides job opportunities, moving the retail, real estate and services sector. She believes that such matters give the investor confidence and increase the attractiveness of investment in Abu Dhabi and the UAE in general.

Cost of business

Over the years, Abu Dhabi and the UAE have been favored investment destinations, a reputation that must be maintained by periodically reviewing the cost of business, ensuring competitiveness of products and services and supporting attracting investments.

Abdullah suggested that periodic surveys and quarterly meetings will be held in which employers say their opinion on the procedures, laws and decisions, and then take the necessary action, stressing that the seriousness of these meetings and inclusiveness of a wide range of entrepreneurs and owners of companies, would establish a real partnership between the two sectors Private and government, supports the continued competitive economy.

Abdullah called on the concerned parties to make internal comparisons between the benefits of the newly established business and the benefits and reductions, and its counterpart, which existed for a long time, to find out the possibility of equal at least in the bulk of the fees, in support and stimulus for the entire sector.

Delay fees and fines need to be reviewed

■ site adjustment fee (fine).

■ Due Services Improvement (fine).

■ Fines for delaying license renewal (fine).

■ Abu Dhabi Chamber fees (AED 100 fixed fine).

■ Commercial registration fee delay.

■ Due fee - fine delay activities.

■ Tariffs on waste producers.

■ Draw activities.

■ Commercial registration fee upon renewal.

License renewal fees.

■ Service charges (federal).

■ Fees of civil defense services.

■ Draw the billboard.

■ Fees of civil defense fines.

■ Improved fee services.

■ Abu Dhabi Chamber Fees.