Total number of new business licenses in Abu Dhabi rises by 4%

GMT 14:42 2015 Monday ,11 May

Arab Today, arab today Total number of new business licenses in Abu Dhabi rises by 4%

Business licenses in Abu Dhabi
Abu Dhabi - WAM

The total number of new business licenses in Abu Dhabi has risen by 4% during the first quarter of this year, to 2,536, in comparison with the first quarter of last year, which amounted to 2,438 licenses.

The total number of business licenses registered in Abu Dhabi at the end of the first quarter of this year reached 108,016, distributed over 66,023 licenses in the Emirate of Abu Dhabi, 30,715 in Al-Ain and 11,278 in the Western Region.

According to the first quarter business mobility report issued by the Abu Dhabi Business Centre of the Abu Dhabi Department of Economic Development, the total number of business licenses registered at the end of first quarter was 86,480 licenses for business activity licenses, 2,526 for professional activity licenses and 19,010 for trade activity licenses.

Mohammed Rashid Amer Al Romaithi, Acting Executive Director of the Abu Dhabi Business Centre, confirmed the continuous progress of business license mobility in the Emirate of Abu Dhabi, noting that it indicates that Abu Dhabi enjoys a business environment that attracts investments and the expansion of trade activities in different fields.

According to the Abu Dhabi 2014 development indicators results, there is a rise in the total number of new licenses. This reflects continued improvement in the attractiveness of businesses and investment environments in the emirate and indicates that the performance of business facilities has improved in 2014 in light of government efforts and private sector efforts aimed at enhancing domestic demands for goods and services.

Al Romaithi added that according to the results of many sector performance indicators, the economy of the Emirate of Abu Dhabi is still witnessing an improvement since 2014. This improvement has had an impact on confidence levels and optimism toward current and future economic situations for all parties involved in the economy process, including consumers, businessmen and businesswomen, and investors.

He also clarified that trade activities maintained their continuous development and improvement from 2012 until 2014 with an average annual increase rate of 10% of the number of new licenses during the period.

The Acting Executive Director then said that the Abu Dhabi Business Centre's announcement to implement a project allowing the issuance of business licenses in Abu Dhabi in 10 minutes of less from submitting an application, would enhance the results of business indicators for the current year, which in turn would translate into continuous improvement in business and investment environments.

According to the Centre's report for the first quarter of this year, the largest portion of business licenses remained that of individual enterprises with 71,418 licenses followed by limited liability enterprises with 24,063 licenses, company branches with 11,709 licenses, collective companies with 364 licenses, limited partnerships with 242 licenses, stock companies with 102 licenses, private joint stock companies with 91 licenses, and cooperatives with 27 licenses.

The first quarter report also stated that the Abu Dhabi Business Centre renewed 19,637 licenses, amended 7,083 trade activities, reserved 6,309 business names, issued 688 permits, approved 1,402 promotions, 118 withdrawal permits and 51 commercial billboard transactions, and issued 7,308 letters related to business licenses.

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