New guidelines for economic licenses in Abu Dhabi

New guidelines for economic licenses in Abu Dhabi

The new licenses need to obtain a 'No Objection Certificate' for the first year.

By Wam

Published: Sun 9 Sep 2018, 12:00 PM

Last updated: Mon 10 Sep 2018, 8:42 AM

The Department of Economic Development (DED), has issued two decisions to facilitate economic activities in Abu Dhabi as part of the initiatives and incentives provided to the private sector companies and entreprises operating in the emirate.
These decisions will help improve the emirate's ranking in the 'Doing Business and Global Competitiveness Reports'.
The first decision modified the calculation mechanism of the billboards fees whereby the issuance and renewal of all kinds of economic licenses will be charged a fixed fee of Dh200.
The DED also exempted the new licenses, whether commercial, industrial, professional, craft, construction and others, from the fees charged by the Centre of Waste Management - Abu Dhabi and the need to obtain a "No Objection Certificate" for the first year.
Speaking on the occasion, Khalifa bin Salem Al Mansouri, DED Undersecretary, said that these decisions come as part of the department's keenness, through its collaboration with its strategic partners in the government, to adopt the best practices and enablers that can reinforce the Emirate's status regionally and globally regarding the competitiveness of the business sector.
He also explained that the DED has implemented several initiatives that aim to achieve continuous development of the business registration system in Abu Dhabi by means of reducing the time, cost and number of procedures needed to conduct business in the emirate, in addition to attracting more investment to create an attractive business environment and achieve the highest levels of competitiveness possible.
Al Mansouri hailed the support provided by the DED's strategic partners in the government who helped the DED issue those decisions that contribute to supporting the business sector, enhance the emirate's performance and improve its competitiveness in the World Bank Doing Business Report.
In addition, he expressed DED's keenness on providing further incentives and implement more initiatives that aim to empower the private sector in the Emirate of Abu Dhabi and attract investments by facilitating the economic licensing issuance procedures and requirements and provide a suitable business environment for investors and businessmen.
This step comes as part of the DED's effort to support the economic package launched 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 Abu Dhabi's Executive Council.
For his part, Mohammed Munif Al Mansouri, CEO of Abu Dhabi Business Centre, said that the first decision issued on billboards fees was implemented to reduce the cost of issuing economic licenses in the emirate of Abu Dhabi, especially those that require the installation of large size billboards which previously cost up to Dh3,000.
Meanwhile, the second decision on exempting new licenses from the Centre of Waste Management - Abu Dhabi's fees aims to support the government's efforts to attract investments and the business sector by reducing the fees that are imposed on investors and businessmen during the economic project establishment phase in the emirate which will ensure their success and continuous progress.

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