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Saturday, April 1, 2023

Abu Dhabi shows strong growth, surge in economic licenses

Abu Dhabi shows strong growth, surge in economic licenses

Abu Dhabi issued a total of 25,593 new economy licenses last year and renewed 73,212 licenses, indicating strong growth in its business sector.

There was a significant increase in new licenses in the professional, tourism and industrial sectors.

Professional licenses will increase from 243 in 2021 to 635 in 2022, an increase of 161%. Tourism licenses will increase from 126 in 2021 to 181 in 2022, an increase of 43.6%, while industrial licenses will increase from 206 to 243 in 2021, an increase of 17.9%.

Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said: “The continued growth in new and renewed economic licenses reflects the success of Abu Dhabi’s policies and initiatives to advance its diversification strategy as well as the continued improvement of the legislative and regulatory framework and as infrastructure and digital transformation in order to provide attractive opportunities for investors in different sectors.”

According to the business activity report, 23,947 business sector licenses were issued in 2022, accounting for 93.5% of the total number of new licenses. In 2022, 560 occupations and 25 new licenses were issued in the agriculture, livestock and fishing sectors.

(Writing by Seban Scaria; Editing by Daniel Luiz)


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