Abu Dhabi (Etihad)
The number of new economic licenses issued in Abu Dhabi increased to 25,427 licenses during 2021, with a growth of 21.5% compared to 20,925 licenses in 2020, according to the commercial activity report issued by the Abu Dhabi Business Center for the year 2021 at the Department of Economic Development.
The report indicated that the number of renewed economic licenses increased during the past year to 83,484, a growth of 15.8 percent, compared to 72,070 licenses in 2020, which reflects the continuity of recovery in the post-pandemic period, growth and confidence in the business sector in the Emirate of Abu Dhabi.
Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development – Abu Dhabi, said: “The proactive approach taken by Abu Dhabi in dealing with the repercussions of the pandemic, and wisely strengthening the basics of the economy, has enabled the emirate to continue growth and economic diversification. 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 entities, 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.”
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, or 94.7% of the total new licenses (25,427), 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 the year 2020, and licenses in the field of agriculture, fisheries and livestock 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, industrial licenses 206, a growth of 14.4%, compared to 180 industrial licenses in 2020, and professional licenses 243, an increase of 9%, compared to 223 licenses in 2020.
The number of new “Tajer Abu Dhabi” licenses reached 7,106 last year, compared to 7,087 in 2020, and the number of new instant licenses reached 2,653 compared to 2,159 licenses in 2020. The number of foreign investor licenses increased from only 6 in the year 2020. to 273 licenses in 2021, and the number of liberal professions licenses increased to 1,749 compared to 279 licenses in 2020, and the number of virtual licenses, which were launched in the last quarter of last year, allow the non-resident foreign investor in the UAE to obtain an economic license to conduct business in the Emirate Abu Dhabi, 11 licenses.
Mohammed Munif Al Mansouri, Executive Director of the Abu Dhabi Business Center, 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.
The Abu Dhabi Economy’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 in order to provide more benefits to local and international investors.
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