Abu Dhabi is attempting to rival Dubai in attracting investments and new business.
The Abu Dhabi Business Centre of the Department of Economic Development (DED) has registered 2,935 licenses during the first quarter of 2018, an increase of 26% compared to the same quarter last year, which only saw 2,328 new licenses, according to the report issued for the first quarter of 2018.
The report monitors commercial activities in Abu Dhabi, mainly new license issuances, renewals, modifications, permits, announcements, violations, fees and other types of transaction activities.
How did this jump happen?
Mohammed Munif Al Mansouri, CEO of the Abu Dhabi Business Centre, said that the DED has devised a clear strategy to develop the business sector, in order to turn Abu Dhabi into an attractive destination for investors and businessmen.
This has been achieved by implementing the plans, programs, regulations, and laws that govern the job market and ensure the carrying out of the best practices, which in turn enables the emirate to secure advanced positions in international competitiveness reports.
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A clear increase
The report mentioned that the total number of new commercial licenses registered in the emirate reached 2,779 in the first quarter of 2018, compared to 2,220 licenses in the same quarter of last year, indicating an increase of 25%.
On the other hand, there were 49 craft licenses registered in the first quarter of 2018, which is the same as last year.
Moreover, 43 new tourism licenses have been recorded during the first quarter of 2018, compared to 29 licenses in the same period last year, which was an increase of 48%.
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Regarding professional licenses, 53 new licenses were recorded in the first quarter of 2018, compared to 17 in the same period last year, an increase of 211%, whereas the agricultural, fish and livestock and industrial licenses recorded 7 and 4 licenses, respectively, during the first quarter of 2018.