The new added economic activities reflect the vitality of business sector in Abu Dhabi.
The Abu Dhabi Business Centre (ADBC), a part of Department of Economic Development (ADDED), announced that 80 new economic activities were added during 2021, brining the total of economic activities to 4062 by end of last year.
New added activities cover many vital business sectors, including 40 new commercial activities, 25 professional, six industrial, five agricultural, two crafts activities, and two in tourism sector.
Mohammed Munif Al Mansouri, Executive Director of ADBC, said, “The new added economic activities reflect the vitality of business sector in Abu Dhabi, which witnesses expansion in specialised activities. It also reflects ADDED’s efforts to ensure ease of doing business as we regularly study the economic sector to know the market demands and requirements. Adding new activities allow entrepreneurs to issue necessary licenses to do business and launch their projects which will contribute positively to commercial activity and economic development in Abu Dhabi.” New commercial activities added in 2021 include television and radio broadcasting via encrypted and open channels, e-sports event management, securities lending and borrowing agency, safe custody of collaterals and mortgages and insurances, general clearing for securities, buying and selling securities for personal accounts, insurance products marketing, certificate of deposit services, securities remote access trading, car mortgage, and social innovation development and administration.
New industrial activities added include manufacture of sensors and military communications systems, machines and equipment for military factories, military tools and supplies, military aircrafts, military autonomous systems, and medium military weapons manufacturing.
In agricultural sector, the new added activities include beekeeping training, breeding reptiles and amphibians, breeding of birds (non-domesticated), breeding aquatic animals, and breeding of mammals (non-domesticated).
New professional activities include customs consultancy, military aviation training, data management and cyber security services, gaming quality assurance specialised services, gaming localisation services, and training and qualification of farmers.
New crafts and artisan activities include engine cleaning services and repair, as well as maintenance of military ships.
The Abu Dhabi Department of Economic Development (ADDED) regulates the business sector in the emirate and leads economic initiatives to achieve a knowledge-based, diversified, and sustainable economy. ADDED adopts best policies and practices based on the latest research and statistics, devotes its efforts to elevate the development and renaissance across various sectors, and prepares strategic programmes and plans by adopting the best economic and administrative practices, applying the latest technology and drawing on global expertise.
ADDED strives to improve the investment climate in the Emirate by enhancing prospects for cooperation with strategic partners and ensure principles of innovation, transparency, and knowledge-sharing are followed to strengthening the business ecosystem to enhance Abu Dhabi as preferred destination for business and investments.
Separately, the Emirate of Abu Dhabi saw the issuance of 25,427 new licenses, an increase of 21.5 per cent compared to the 2020 figure of 20,925, according to the 2021 Business Activity Report published recently by the Abu Dhabi Business Center at the Abu Dhabi Department of Economic Development (ADDED).
The report also revealed that renewed economic licenses increased to 83,484, growing by 15.8 percent, from 72,070 in 2020, a clear indication of continued post-pandemic recovery, growth, and development.
Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED, said, “As a result of the Emirate’s pre-emptive approach towards tackling the effects of the pandemic whilst prudently driving the macro-economy forward, Abu Dhabi was able to forge ahead successfully with its growth and diversification roadmap. The economic landscape in Abu Dhabi has been crafted to offer businesses and entrepreneurs a compelling proposition, something made possible by our evolved and digitalised infrastructure.”
He further explained, “Initiatives such as the Investor Journey programme which was responsible for driving a 71 percent reduction in business set-up requirements in coordination with 26 local and federal government entities, and the lowering of ADDED setup and renewal fees by 90 percent, have facilitated ease of doing business for investors and entrepreneurs. We also pride ourselves with the integrated public-private business partner eco-system which we managed to create to allow businesses to benefit from and thrive.”