"Abu Dhabi Economy": clear indications of the emirate's openness to investors
Cancellation of 20,000 business licensing requirements in Abu Dhabi
The measures aim to establish Abu Dhabi's global position as a preferred destination for business.
Rashid Al Balushi: "The changes are a clear message about Abu Dhabi's readiness, in terms of regulations and systems to support business growth."
The Department of Economic Development in Abu Dhabi announced the cancellation of more than 20,000 business licensing requirements in Abu Dhabi, as part of a comprehensive and ongoing initiative to review business regulations in the emirate, which is managed by the "Abu Dhabi Economy", in which the number of government departments and entities participating in it has increased since it was first announced. The first was last August to 26 local and federal authorities.
And it stated in a statement that the cancellation, which aims to support investment in the emirate, affected 71% of all business licensing requirements, which previously numbered 28,788 requirements.
According to the "Abu Dhabi Economy", this step, which was implemented by the department in consultation with a number of local and federal authorities, comes to ensure that the regulatory environment in the emirate keeps pace with its development priorities.
The canceled requirements include several areas, the most important of which are health care, transportation, food, and agriculture, in addition to public health and the environment.
The Abu Dhabi Economy confirmed that it will continue its efforts to increase the scope of cooperation with government departments and agencies, as part of its focus on building an integrated system to support investors, in order to enhance Abu Dhabi's position as a preferred regional and global business destination.
She pointed out that in addition to leading efforts to reduce procedures, in accordance with the best international standards and practices, the "Abu Dhabi Economy" has reduced the requirements of 118 commercial activities that it regulates from 709 requirements to 162 requirements, by 77%, while reducing the requirements of other activities, such as parts trading. Auto parts and maintenance, to one requirement.
Undersecretary of the Department of Economic Development in Abu Dhabi, Rashid Abdul Karim Al Balushi, said that "reducing the requirements for issuing licenses for commercial activities by 71% reflects the keenness of the Abu Dhabi government to take concrete steps to facilitate the establishment of businesses and enhance Abu Dhabi's competitiveness regionally and globally."
He added, "These changes carry a clear message about Abu Dhabi's readiness, in terms of regulations, regulations and procedures necessary to support business growth," noting that "the Abu Dhabi government is taking a proactive approach in order to provide a suitable environment for business and investments, and we will continue our efforts in this regard to promote economic transformation in Emirate.”
For his part, Sameh Al Qubaisi, Director General of Economic Affairs at the Department of Economic Development in Abu Dhabi, said that Abu Dhabi's multi-faceted economic diversification strategy aims to develop the business environment, raise it to global competitive levels, and advance economic growth.
He added, "The smart (Investor's Journey) platform to support investors provides tools and information that contribute to accelerating the procedures for issuing commercial licenses, and direct communication with the concerned authorities in the public and private sectors," noting that other incentives that were announced recently, include reducing fees for issuing and renewing licenses. Commercial activities, in addition to other measures that will contribute to the consolidation of Abu Dhabi’s global position, as a preferred destination for business.”
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