Abu Dhabi Department of Economic Development issues 25,500+ new economic licenses in 2022

Abu Dhabi Department of Economic Development issues 25,500+ new economic licenses in 2022 

The Business Activity Report for 2022, issued by the Abu Dhabi Business Center, part of the Abu Dhabi Department of Economic Development (ADDED), has reported growth of major indicators, reflecting the resilience and vitality of the business sector despite challenges in the global economy.

A total of 25,593 new economic licenses were issued last year, and 73,212 licenses were renewed, indicating strong growth and confidence in Abu Dhabi business sector.

A remarkable growth in professional, tourism, and industrial new licenses reaffirm the attractiveness of these sectors to investors and the ample opportunities they provide for investors.

Professional licenses witnessed an increase of 161 percent from 243 in 2021 to 635 in 2022. Tourism sector licenses grew to 181 in 2022 from 126 in 2021, an increase of 43.6 percent, while industrial sector licenses rose to 243 from 206 licenses in 2021, a 17.9 percent rise.

According to the Business Activity Report, 23,947 commercial sector licenses were issued in 2022, comprising 93.5 percent of total new licenses. 560 occupational and 25 agricultural, livestock, and fishery sector new licenses were issued in 2022.

His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said: “We remain focused on constant enhancements of the public-private partnership ecosystem to allow businesses to benefit from and thrive, meet investors’ demands, and protect consumer and intellectual property as part of our efforts to achieve a knowledge-based, innovation-driven, and sustainable economy.”

The Abu Dhabi Business Center’s report revealed that the Trademarks & Commercial Agencies Protection Department has conducted 5,169 monitoring visits and 213 inspection campaigns to ensure adherence of commercial facilities to laws and rules regulating the sector in the Emirate. The number of offenses reported decreased to 420 from 479 in 2022, and 10 awareness workshops on the differences between original and counterfeit products were organised.

The Consumer Protection Department has conducted 9147 monitoring visits and 153 inspection campaigns. It has settled 5064 consumer complaints related to products valued AED 27.6 million, compared to 4209 settled complaints in 2021.

Last year, Inspection & Control Department conducted185759 monitoring visits compared to 179457 in 2021 while offenses reported decreased from 7080 in 2021 to 3813 in 2021.

In 2022, the Abu Dhabi Business Centre launched initiatives to enhance the business ecosystem and ensure the best conditions for investors to grow and thrive while protecting rights of consumers and intellectual property. It has launched, in cooperation with the Abu Dhabi Judicial Department (ADJD), a consumer dispute resolution service to expedite the settlement of disputes between consumers and commercial establishments in the emirate of Abu Dhabi, amicably, and at the best possible cost for the concerned parties.

His Excellency Mohammed Munif Al Mansouri said: “As part of our ongoing efforts to ensure ease of doing business and support entrepreneurs, we expanded Tajer Abu Dhabi (Abu Dhabi Trader) license, which allows micro, small and medium-sized enterprises (mSMEs) to obtain the trade license without the need to work from a physical location or having to pay rent on commercial space for three years, by adding 126 new activities to it. Additionally, ADDED granted 1200 economic activities a one-year exemption from having a lease contract for work premises. We are committed to continuously improving Abu Dhabi's competitiveness and status as the preferred destination for business and investments.”

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