A total of 1,200 economic activities have been granted one-year exemption from a lease contract for work premises as a prerequisite to issuing an economic license by the Abu Dhabi Department of Economic Development (ADDED).
The economic activities included in this initiative represent 29.5 percent of total economic activities licensed and regulated by ADDED, which reached 4,062 by the end of 2021.
ADDED said it has recently launched many initiatives to ensure ease of doing business, including slashing business set-up and renewal fees by over 94 percent and reducing over 71 percent in business set-up requirements, in coordination with 26 local and federal government entities.
The move was welcomed by the business sector, reflected by an increase of new economic licenses of 21.5 percent and renewals of 15.8 percent in 2021 which confirms the attractiveness of the business sector in Abu Dhabi.
Abu Dhabi Business Centre (ADBC), which is part of the ADDED, said the exemption is part of the centre’s commitment to enhancing business environments and ensuring ease of setting up and doing business.
Mohammed Munif Al Mansouri, Executive Director of ADBC, said, “This new initiative is a testament to ADDED’s commitment to enhancing the ecosystem and its proactive approach will enable businesses to benefit from growth opportunities in Abu Dhabi.”