Abu Dhabi Chamber signs three MoUs to support private sector

Gulf Today, Staff Reporter

In line with the launch of the Abu Dhabi Chamber of Commerce and Industry’s (ADCCI) new strategy for the next three years, the Chamber has signed three Memoranda of Understanding (MoUs) with the Federal Tax Authority (FTA), the Statistics Centre - Abu Dhabi (SCAD), and eBay, to support the private sector in the Emirate of Abu Dhabi and enable it to reach its full potential.

 The signing of the MoUs comes as part of the Chamber’s efforts to promote the growth of Abu Dhabi’s economy by empowering the private sector. It reflects the Chamber’s role as a policy advocator, networker, and service provider, as part of its new strategy.

 Mohamed Helal Al Mheiri, Director General of the Abu Dhabi Chamber, stated “The Chamber is proud to cooperate with leading local and international entities, who recognize its role as a trusted partner for the public and private sectors and a major supporter of private companies in Abu Dhabi. The Chamber strives to meet the needs of the private sector, provide private companies with knowledge and guidance, and familiarise them with the tax and legislative system.”

“The Chamber began the execution of its new strategy, which has already started bringing about positive outcomes, especially with the signing of these agreements. During the coming period, we will continue working to strengthen our partnerships and harness the required expertise to benefit the private sector in Abu Dhabi,” he added.

The MoU with the Federal Tax Authority aims to enhance cooperation and coordination in joint programs, initiatives, and projects and establish working committees to overcome the challenges facing the private sector in the Emirate. Under the terms of the MoUs, the two parties will also organize meetings and workshops for private companies and the business community to raise awareness about the tax regulations introduced in the UAE and enable them to take the necessary measures to ensure compliance with them.

Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said: “The agreement between the Authority and the Abu Dhabi Chamber aims to strengthen cooperation to continue improving the services that support and assist businesses. This aligns with the Authority’s plans to maintain an environment that influences tax compliance by following the best standards of governance and transparency. The Authority is committed to strengthening its strategic partnerships with the public and private sector, which play a key role in successfully implementing the tax system.”

“On this occasion, we would like to thank the Abu Dhabi Chamber for its significant role in supporting this partnership, which aims to bring about great outcomes through enhancing the services provided to the stakeholders registered with the Authority. The partnership also aims to raise the level of tax awareness through the joint organization of activities that promote tax culture among businesses and consumers, as well as inform all stakeholders about their rights and duties within the tax system to identify any obstacles that they may face and address them immediately,” he added.

The Chamber also signed an MoU with the Statistics Centre - Abu Dhabi (SCAD) to enhance cooperation between the two sides in data, exchange of experiences and knowledge, and developing statistical capabilities and competencies.

As part of the MoU, the two parties will provide accurate statistical products and develop and implement effective methodological frameworks and policies for data management through modern electronic systems, which will contribute to the organization and integration of statistical work and support decision-makers in the Emirate.

Ahmed Mahmoud Fikri, Director General of SCAD, said: “Data collaboration is imperative to the realisation of the ambitions of our wise leadership, which entails the establishment of an advanced and integrated statistical ecosystem equipped with modern technologies to aid policymakers and maintain the overall competitiveness of the Emirate of Abu Dhabi.”

 He added: “The agreement with the Abu Dhabi Chamber of Commerce and Industry is an important step towards expanding the Chamber’s statistical abilities and taking full advantage of data collaboration with the support of advanced technologies and solutions which ensure integration between the two entities. It would result in promoting the growth of the commercial and industrial sectors and furthering the sustainable development goals of the Emirate of Abu Dhabi.”

Furthermore, the Chamber signed an MoU with eBay as part of its efforts to support the e-commerce sector. As part of the MoU, members of the Chamber will receive a free subscription to the eBay store for three months, and have the opportunity to take part in training courses, which are specifically designed to teach them how to create a new digital store and expand into an existing store on the eBay platform.