Morning skyline of the UAE's capital. Abu Dhabi is taking proactive steps to facilitate ease of doing business and attract more investments. Khushnum Bhandari / The National
Morning skyline of the UAE's capital. Abu Dhabi is taking proactive steps to facilitate ease of doing business and attract more investments. Khushnum Bhandari / The National
Morning skyline of the UAE's capital. Abu Dhabi is taking proactive steps to facilitate ease of doing business and attract more investments. Khushnum Bhandari / The National
Morning skyline of the UAE's capital. Abu Dhabi is taking proactive steps to facilitate ease of doing business and attract more investments. Khushnum Bhandari / The National

Abu Dhabi scraps 20,000 requirements for business set-up to attract investors


Deena Kamel
  • English
  • Arabic

Abu Dhabi has removed more than 20,000 requirements to set up businesses in the emirate as part of an ongoing overhaul of procedures led by the Abu Dhabi Department of Economic Development.

The department, also known as Added, is seeking to attract more investment and improve the ease of doing business.

Twenty-six local and federal partner entities participated in the reductions programme, which amounted to 71 per cent of the total 28,788 requirements previously in place, Added said on Wednesday. The programme was first introduced in August.

"We are telling the world that Abu Dhabi will continuously seek to enhance its regulations, systems and services making up the ecosystem necessary for any businesses and investors to thrive," said Rashed Al Blooshi, undersecretary of Added.

"In Abu Dhabi, public institutions play a proactive role in providing an accommodating environment for business and investment, and this is something we will continue to do as we transform the emirate’s economy.”

Abu Dhabi has taken various measures – such as providing rent rebates, discounts on utility bills and loan guarantee packages – to support businesses and stimulate economic growth throughout the coronavirus pandemic. Last year, Abu Dhabi slashed business set-up fees by 94 per cent in a move to strengthen its position as a destination for new ventures and boost foreign direct investment into the emirate.

The emirate's move to cancel thousands of business set-up requirements aligns its regulations with its priorities for economic growth, Added said.

The department reduced its own business licensing requirements for the 118 business activities that it regulates, cutting them by 77 per cent to 162.

"The government of Abu Dhabi’s decision to reduce the combined commercial activities licence requirements demonstrates its readiness to take practical steps wherever necessary to promote the emirate’s competitiveness regionally and globally," Mr Al Blooshi said.

Among the 26 government entities participating in the initiative led by Added, the Department of Municipalities and Transport’s Public Health sector reduced requirements by 95 per cent to 511, covering 1,215 activities. The DMT's Transport sector decreased its requirements by 78 per cent to 115.

The Abu Dhabi Agriculture and Food Safety Authority reduced its list by 74 per cent to 1,716 requirements, covering 288 activities. The Abu Dhabi Sports Council cut by 91 per cent, to 82 requirements covering 58 activities. The Department of Health slashed by 56 per cent, to 672 requirements covering 84 activities. Meanwhile, Abu Dhabi Police decreased by 79 per cent to 80 requirements.

The Securities and Commodities Authority made 40 cuts to 700 requirements.

"Our ongoing efforts toward facilitating an optimal business-friendly marketplace are testament to our goal of attracting innovative global talents from all sectors and industries, thus reinforcing a strong knowledge-based economy," Sameh Al Qubaisi, executive director of Added's Executive Affairs Office, said.

"Other incentives we introduced include fee reductions, and these efforts combined will strengthen Abu Dhabi's global position as a business-friendly destination," he said.

To boost its non-oil-economy and support businesses, especially SMEs, Abu Dhabi unveiled the Dh50 billion ($13.6bn) Ghadan initiative. It also introduced visa reforms geared to attract more investors.

In 2020, the government also detailed a plan to stimulate economic growth through strategic investments and 16 initiatives to support the private sector.

The specs

Engine: 3.8-litre, twin-turbo V8

Transmission: eight-speed automatic

Power: 582bhp

Torque: 730Nm

Price: Dh649,000

On sale: now  

Dr Afridi's warning signs of digital addiction

Spending an excessive amount of time on the phone.

Neglecting personal, social, or academic responsibilities.

Losing interest in other activities or hobbies that were once enjoyed.

Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.

Experiencing sleep disturbances or changes in sleep patterns.

What are the guidelines?

Under 18 months: Avoid screen time altogether, except for video chatting with family.

Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.

Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.

Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.

Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.

Source: American Paediatric Association
What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

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Specs

Engine: 2-litre

Transmission: Eight-speed automatic

Power: 255hp

Torque: 273Nm

Price: Dh240,000

Common OCD symptoms and how they manifest

Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.

Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.

Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.

Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.

Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.

Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia

Our family matters legal consultant

Name: Dr Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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From Conquest to Deportation

Jeronim Perovic, Hurst

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INDIA'S%20TOP%20INFLUENCERS
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Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ETuhoon%0D%3Cbr%3E%3Cstrong%3EYear%20started%3A%20%3C%2Fstrong%3EJune%202021%0D%3Cbr%3E%3Cstrong%3ECo-founders%3A%20%3C%2Fstrong%3EFares%20Ghandour%2C%20Dr%20Naif%20Almutawa%2C%20Aymane%20Sennoussi%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3Ehealth%20care%0D%3Cbr%3E%3Cstrong%3ESize%3A%20%3C%2Fstrong%3E15%20employees%2C%20%24250%2C000%20in%20revenue%0D%3Cbr%3EI%3Cstrong%3Envestment%20stage%3A%20s%3C%2Fstrong%3Eeed%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Nuwa%20Capital%2C%20angel%20investors%3C%2Fp%3E%0A
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

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Hydrogen: Market potential

Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.

"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.

Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.

The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.

Updated: January 26, 2022, 2:23 PM`