Significant initiatives by DED to improve ease of doing business

ABU DHABI, 20th September, 2018 (WAM) -- The Department of Economic Development (DED) - Abu Dhabi has launched a number of initiatives since the beginning of the year to drive economic growth in the emirate by bolstering the investment-conducive environment boasted by the emirate, and accelerating FDI inflows.

In collaboration with the Executive Committee of Executive Board of the Emirate of Abu Dhabi, Abu Dhabi’s Smart Solutions and Services Authority (ADSSSA), DED has launched "Tamm", a new system for the electronic issue of economic licences.

Tamm represents a paradigm transformation at the international level, enabling the issuance of an economic license for investors at the earliest possible moment, from anywhere, without the need to visiting any relevant Government authority.

It comes in alignment to the vision and direction set forth by the Executive Committee of Executive Board of the Emirate of Abu Dhabi and the Economic stimulus package approved by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Board of the Emirate of Abu Dhabi, aimed at strengthening the economic development and progress of Abu Dhabi for the coming three years.

DED also announced recently that it has expanded its Tajer Abu Dhabi license package by opening it up to all GCC nationals and UAE residents and increasing the number of eligible activities to 1,057 commercial activities, all exempted from having a physical presence or an office. DED also expanded the legal formats accepted under Tajer Abu Dhabi license to three: Establishment and one-person company for Emiratis and GCC nationals, and limited liability company for residents in partnership with Emiratis.

The move also fits within the recent economic initiatives of His Highness Sheikh Mohamed bin Zayed that include multiple initiatives to improve the ease of doing business in the Emirate and support entrepreneurs, SMEs and the private sector.

Tajer Abu Dhabi was originally launched by DED late last year allowing Emiratis to establish businesses in 100 different business activities without the need of physical presence. The electronic service also sped up the licensing process with licenses granted in only two steps; entering data and paying fees after a review of the application.

Most recently, DED has launched the smart information board "Al Marsad" (Observatory) as part of its investment in the latest artificial intelligence technologies and applications. This board offers accurate database and indicators regarding the performance of Abu Dhabi's macroeconomics on the institutional level. The initiative was implemented in cooperation with the DED's strategic partners building on the role that it plays in leading the economic development agenda in the Emirate in line with the economic development goals of Abu Dhabi Plan.

 

WAM/Hatem Mohamed/Tariq alfaham