Abu Dhabi Department of Economic Development highlights 8 major economic initiatives for sustainable development
Strengthening Abu Dhabi’s regional and global leadership in facilitating businesses and increasing growth and collaboration opportunities for the private sector, the Abu Dhabi Department of Economic Development (ADDED) implements eight major economic initiatives in line with the Abu Dhabi Development Accelerator Programme ‘Ghadan 21’ programme. These initiatives have been created for strategic sectors that promote and serve the emirate’s business environment competitiveness agenda.
The eight leading economic initiatives announced by ADDED are the Abu Dhabi Instant Licence, Industrial Tariffs initiative, Local Content Program, and Tech Licences Package, in addition to existing initiatives such as Tajer Abu Dhabi – Golden Package Licence, Dual Licence for companies operating in free zones, ‘All-In-One Bundle’ for Commercial Licences, and Sharaka, which is being supervised by Abu Dhabi Council for Economic Development (ADCED). In addition, ADDED has also released a resolution, which includes new provisions for the commercial and service activities of industrial facilities.
His Excellency Saif Mohammed Al Hajeri, Chairman of ADDED, said: “The most recent economic initiatives launched by ADDED, in line with the Ghadan 21 programme, form part of our efforts to stimulate business and investments in Abu Dhabi, promote community development and initiate knowledge and innovation systems. These efforts contribute to the overarching goal of enhancing the emirate’s competitiveness and leadership in social and economic development.”
Al Hajeri noted that initiatives such as the Abu Dhabi Instant Licence and the Tech Licences package, which were recently introduced at the Abu Dhabi Government Private Sector forum, form part of a series of initiatives launched by the department. “These initiatives contribute to the achievement of the Ghadan 21 programme’s objective to empower the private sector and facilitate private companies and enterprises’ businesses, thereby enabling them to increase their participation in the economic development of Abu Dhabi,” he added.
He further explained that these initiatives aim to provide a highly supportive environment for enterprises to prosper and expand their businesses in the emirate through facilitating licensing services which will support Abu Dhabi’s vision to become one of the best places in the world to do business, invest, live, work and visit., and demonstrates the emirate’s commitment to ensuring an attractive business environment to various economic sectors.
Al Hajeri highlighted that the implementation of these economic initiatives will support and enable innovative small and medium-sized enterprises (SMEs) to grow, in addition to ensuring transparency, and collaboration between the public and private sectors and enhancing the ease of doing business in Abu Dhabi.
“ADDED’s initiatives are designed to encourage the contribution of the private sector in boosting the emirate’s economic activities and to become the government’s strategic partners in the implementation of development programs, to achieve sustainable development. This goes in line with the Abu Dhabi government’s objectives and the Ghadan 21 programme, which was launched by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council,” he said.
H.E. Rashid Abdulkareem Al Baloushi, Acting Undersecretary of ADDED, commented that the Department is considering launching more new initiatives focused on further enhancing the cooperation with the private sector, in line with the ‘Ghadan 21’ programme, to promote Abu Dhabi’s economic and investment platforms.
H.E. Al Baloushi added: “Through the Industrial Tariffs initiative, we seek to promote the industrial sector as one of the key drivers of Abu Dhabi’s sustainable economic growth and as a major contributor to the emirate’s Gross Domestic Product (GDP). This programme contributes to protecting investors from any potential fluctuations in energy prices and supports the preservation of the country’s resources.”
He pointed out that the Abu Dhabi Instant Licence initiative is a significant step forward for the licencing services provided by the Department through its Abu Dhabi Business Center, which will in turn enhance the emirate’s competitiveness levels of doing business within the global competitiveness reports.
“The Abu Dhabi Instant Licence for all economic activities in Abu Dhabi will reinforce the role of the private sector as a major driver of sustainable economic development, increasing the contribution of the business sector to the emirate’s GDP and attracting investments to Abu Dhabi’s various economic sectors,’ Al Baloushi said.
He further explained that the Instant Licence initiative merges four licensing steps, including trade name, activity selection, legal form and paying fees, into one. The licence covers free and investment zones in Abu Dhabi, while reducing the number of its economic activities from 5,000 to 70 activities with the option to expand later, by including new activities within its legal framework.
Al Baloushi also highlighted the significance of the new resolution, which adds new commercial and service activities to industrial facilities in the emirate as part of the Abu Dhabi Government’s policy to expand the business sector and develop services of industrial companies.
H.E. Dagher Al Marar. Director General of ADCED, noted the importance of the Sharaka initiative, which is being administered by the Council, it was recently linked to Abu Dhabi Government Services’ TAMM system. “It is a significant step towards the unification of Abu Dhabi Government’s efforts to establish direct and reliable communication between government entities and the private sector,” he added.
Al Marar said that Sharaka is a significant platform to improve communication with relevant entities, attain customer satisfaction and facilitate investors’ business transactions in line with the economic directives of H.H. Sheikh Mohamed bin Zayed Al Nahyan, adding that it is a convenient and secure system to address concerns of private entities to the government when it comes to billing and settling of payments and dues. Sharaka achieves this while also ensuring a constructive and transparent dialogue between concerned entities. He further added that Sharaka will soon be implemented as an integrated platform, which will address the challenges of private companies and increase the efficiency of businesses in the emirate.