Abu Dhabi Department of Economic Development (Added) has revealed more details on its fee reductions to support the private sector and boost investment in the emirate.
Added has set a municipality fee of Dh50 ($13.61) for the authentication and registration of economic lease contracts and for Abu Dhabi Chamber’s membership fees. It also cancelled service providers’ fees and the waste producer’s tariff that is paid to Tadweer, Abu Dhabi's waste management centre.
The fees paid to the Abu Dhabi Civil Defence Authority for Certificate of Conformity have also been cancelled, Added said on Thursday.
The decision “supports the efforts of the Abu Dhabi government towards enhancing the ease of doing business in the emirate and lays the foundations for a prosperous business environment that encourages growth and innovation”, said Abdullah Al Sahi, undersecretary of the Department of Municipalities and Transport.
In July, Added in partnership with other government organisations cut business set-up fees by 94 per cent to Dh1,000 to attract more investors to the emirate and boost its competitiveness.
Abu Dhabi has been taking measures to support its economy, including providing rent rebates and reducing business set-up costs by more than 90 per cent to attract investors and improve the ease of doing business in the emirate.
Last month, Added said it was introducing a professional licence that would allow foreigners full ownership of businesses related to 604 activities as the emirate seeks to attract more investors and boost its economy. The professional activities include accounting, training, consultancy, beauty centres, computer and internet network companies, Added said.
Abu Dhabi’s economy is expected to grow by 6 per cent to 8 per cent over the next two years, driven by the oil sector, government spending, financial services and foreign direct investment, Mohammed Al Shorafa, chairman of the emirate's Department of Economic Development, said earlier this year.