«Abu Dhabi Economy»: Issuance of 25.42 thousand new licenses

New economic licenses in Abu Dhabi rise 21.5% during 2021

Abu Dhabi Economy: The initiatives contribute to enhancing the ease of doing business.

À from the source

The Department of Economic Development in Abu Dhabi announced the results of the commercial activity report issued by the Abu Dhabi Business Center for the year 2021.

The report revealed an increase in the number of new economic licenses to 25,427 licenses, a growth of 21.5% compared to 20,925 licenses in 2020.

The number of renewed economic licenses increased during the past year to 83,484 renewed licenses, a growth of 15.8%, compared to 72,70 renewed licenses in 2020, reflecting the continuity of recovery in the post-pandemic period, growth and confidence in the business sector in the Emirate of Abu Dhabi.

proactive approach

Undersecretary of the Department of Economic Development in Abu Dhabi, Rashid Abdul Karim Al Balushi, said that the proactive approach taken by Abu Dhabi in dealing with the repercussions of the "Covid-19" pandemic, and wisely strengthening the foundations of the economy, has enabled the emirate to continue economic growth and diversification.

He stressed that the economic landscape reflects the efforts made to provide attractive opportunities for investors, thanks to the advanced digital infrastructure.

He added: "Initiatives such as (the Investor's Journey), which saw a reduction in business licensing requirements by 71%, in cooperation with 26 federal and local government agencies, and a reduction in business establishment fees and renewal of commercial licenses by more than 90%, contribute to enhancing the ease of doing business for investors and entrepreneurs.

We also have an integrated system of public-private partnerships that we have put in place to enable businesses to benefit from them and achieve prosperity.”

Types of licenses

According to the report on the movement of commercial activity for the year 2021, the number of licenses in the commercial field reached 24,077, with a rate of 94.7% of the total new licenses of 25,427 licenses, and the growth rate of these licenses reached 21.4% compared to licenses in the commercial field issued in 2020. which amounted to 19,839 licenses.

The number of new craft licenses reached 711, with a growth rate of 35.7%, compared to 524 craft licenses in 2020, while licenses in the field of agriculture, fisheries and livestock registered 64 licenses, compared to 70 licenses in 2020.

The number of tourism licenses reached 126, a growth of 41.6%, compared to 89 licenses in 2020, and 206 industrial licenses, a growth of 14.4%, compared to 180 industrial licenses in 2020.

Professional licenses registered 243 licenses, a growth of 9%, compared to 223 licenses in 2020.

«Abu Dhabi Merchant»

In turn, the number of new "Tajer Abu Dhabi" licenses reached 7,106 last year, compared to 7,087 in 2020, while the number of new instant licenses reached 2,653 compared to 2,159 instant licenses in 2020.

foreign investor

The number of foreign investor licenses increased from only six in 2020 to 273 in 2021, and the number of liberal professions licenses increased to 1,749, compared to 279 in 2020.

The number of virtual licenses that were launched in the last quarter of 2021, which allow a foreign investor not residing in the UAE, to obtain an economic license to conduct business in the Emirate of Abu Dhabi, reached 11 licenses.

thoughtful growth

For his part, the Executive Director of the Abu Dhabi Business Center, Mohammed Munif Al Mansouri, said: "We are witnessing a deliberate and gradual growth of business in various sectors and activities, which reflects the efforts made to lead the economy of the Emirate of Abu Dhabi in the coming period of development."

He added: "The Abu Dhabi Economy Department's promotion of ease of doing business over the past year is an important and essential goal for business owners, and we will continue to maintain and consolidate this system, to provide more benefits to local and international investors."

• The economic landscape reflects the efforts made to provide attractive opportunities for investors.

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