According to the 2021 Business Activity Report published by the Abu Dhabi Business Center at the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi records a 21.5 per cent growth in the issue of new licenses for the year 2021, a total of 25,427 licenses, as compared to 2020’s total of 20,925 licenses.
The report showed that renewed economic licenses increased 15.8 per cent to 83,484 in 2021, from 72,070 in 2020.
Of the 25,427 new economic licenses issued last year, commercial sector licenses made up 24,077, up 21.4 per cent from 19,839 in 2020, with 711 professional sector licenses issued, up 35.7 per cent from 524 licenses the previous year.
There were 64 agricultural, livestock and fisheries sector licenses issued last year compared to 70 in the previous year.
Tourism sector licenses grew to 126 in 2021 from 89 in 2020, up 41.4 per cent year-on-year, while the number of industrial sector licenses issued increased to 206 in 2021 from 180 licenses, a 14.4 per cent growth over 2020.
The number of occupational sector licenses rose 9 per cent from 223 in 2020 to 243 licenses in 2021. ‘Tajer Abu Dhabi’ new licenses issued in 2021 reached 7,106 compared to 7,087 in 2020, while the number of instant licenses issued came in at 2,653 for 2021, compared to 2,159 in 2020.
New licenses for foreign Investors grew from only 6 in 2020 to 273 in 2021; freelance licenses issued in 2021 increased to 1,749 from 279 in 2020, with 11 virtual licenses for non-resident foreign investors as part of an initiative launched in Q4 2021.
“Initiatives such as the Investor Journey programme which was responsible for driving a 71 per cent 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 per cent, have facilitated ease of doing business for investors and entrepreneurs,” said Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED.
