Abu Dhabi has launched a unified economic license to bolster the emirate’s competitiveness as a business-friendly destination for investors and entrepreneurs.
The new initiative unifies procedures for registering economic licenses across the emirate and its free zones, streamlining business setup and reinforcing governance and transparency. This will introduce a standardised reference number for all licences and ensure company data remains current within a newly integrated Abu Dhabi registry, simplifying data management and fostering collaboration between free zones and mainland authorities.
“Investors will benefit from a seamless and faster digital setup process, reflecting Abu Dhabi’s commitment to continuously improve the business ecosystem and solidify Abu Dhabi’s position as a global business hub,” Abu Dhabi Media Office reported. Representatives from entities responsible for economic licence registration have formed a task force to ensure a smooth transition.
“Free zones play a significant role in our economic diversification and attraction of foreign direct investments (FDIs) in key targeted sectors,” said HE Ahmed Jasim Al Zaabi, Chairman of ADDED and Abu Dhabi Free Zones Council. “Unifying the licensing process of economic establishments in the emirate is a pivotal step, underscoring Abu Dhabi’s commitment to enhancing a business ecosystem that aligns with global standards, empowers investors, entrepreneurs, and exceptional talents to capitalise on the extensive and promising opportunities offered by the emirate’s dynamic and thriving economy.
“This is achieved through the revision and enhancement of legislative and regulatory frameworks, and accelerated efforts in digital transformation.”
He stressed that the stakeholders are working alongside our strategic partners and all other stakeholders to create the necessary framework and activate an efficient system that unifies all registration activities. “We will continue to develop this partnership to meet investors’ needs and to ensure that Abu Dhabi has the best conditions for ease of establishing and doing business, while increasing its global competitiveness and achieving our strategic goals,” he added.
The new licence is spearheaded by Khalifa Economic Zones AD (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), Masdar City Free Zone, and Creative Media Authority (CMA).
