Abu Dhabi to ease business setup process as new authority announced
Abu Dhabi, which Wednesday launched four new projects and policies including the establishment of a new company to allow business setup to be faster and easier in the UAE capital, and a new industrial area for new technological solutions and local production.
These four initiatives are — introduced on Wednesday, the first day of Abu Dhabi Business Week (ADBW) — the Abu Dhabi Registration Authority (Adra), Abu Dhabi Chamber of Commerce and Industry’s (ADCCI) New Strategy, Khalifa Fund for Enterprise Development (KFED) and MEZN Venture Studios’ New Strategy, and Family Business Council.
Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, established the Abu Dhabi Registration Authority (Adra) which was an entity of the Abu Dhabi Department of Economic Development (ADDED) for the establishment and management of businesses as the centralized system for registration and reporting of businesses on the Emirate’s mainland and free zones.
The centre will centralise and automate business registration across the Emirate’s mainland and economic free zones, in line with UAE and global laws.
The ADBW’s first edition is at the Abu Dhabi National Exhibition Centre (Adnec), where public and private sector senior executives will discuss various topics. The new approach was also revealed by Khalifa Fund for Enterprise Development (KFED) and MZN Venture Studios.
MZN Venture Studios – the new industrial district with innovation and local production. It will attract foreign direct investment with incentive package and deliver infrastructure and shared services for growth of the key sectors.
.The Khalifa Fund, a not-for-profit, government-backed economic development fund for small-to-medium enterprises (SMEs), introduced a new strategy to ensure it continues to offer the right kind of support, business promoting activities and inclusive environments to help SMEs grow across the Emirate.
A Abu Dhabi Family Business Council was also created on Wednesday for the benefit of these companies and a new generation of leaders. The Council will help family businesses determine priorities and issues and provide guidance in the areas of solving problems and investments.
"As a developing economic engine and the world’s most valuable city of sovereign wealth, we should never forget the extraordinary journey that has led us to where we are," Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Chamber, said.
In addition, Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the new plan that makes the chamber a leading business accelerator for the private sector in Abu Dhabi. New strategy cements Emirate business community by linking companies with local and international markets.
Al Zaabi continued: "The Abu Dhabi Chamber’s strategic roadmap is a revolution that is ‘made for the private sector, by the private sector to expand even further’.
He said: "The roadmap is the product of intensive talks in the past months amongst stakeholders from public and private sectors to focus on ease of doing business, growth in key sectors, help SMEs and family businesses excel in regional and global markets," said Al Zaabi.
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