Abu Dhabi Business Centre, part of the Abu Dhabi Department of Economic Development (Added), has added 126 new economic activities to its “Tajer Abu Dhabi” (Abu Dhabi Trader) licence category to boost entrepreneurship and support the business ecosystem in the emirate.
Tajer Abu Dhabi permits micro, small and medium-sized enterprises (MSMEs) to obtain a trade licence without the need to work from a physical location or having to pay rent on commercial space for three years.
After the first three-year period, the enterprises are required to have physical work premises as per the rules regulating their businesses and get the necessary approvals.
With the new additions, the total number of activities under the category has increased from 30 to 1,200 since the programme's launch in 2017, Abu Dhabi Media Office said in a statement on Thursday.
The move will empower entrepreneurs, enable the ease of doing business and enhance the emirate’s competitiveness, it added.
“At Added, we champion MSMEs and start-ups as drivers of a vibrant, private sector-led economy … expanding activities of Tajer Abu Dhabi comes in this context as we strive to empower entrepreneurs to set up their businesses and thrive,” said Mohammed Al Mansouri, executive director of Abu Dhabi Business Centre.
Abu Dhabi’s economy rebounded strongly last year as the pace of activity improved on the back of government measures to curb the impact of the Covid-19 pandemic.
S&P expects Abu Dhabi's economy to accelerate to more than 5 per cent in 2022, with output reaching 2019 levels in 2023.
Established in 2013, the Abu Dhabi Business Centre allows investors and entrepreneurs to obtain all approvals and services related to economic licensing in the emirate.
The activities under Tajer Abu Dhabi represent 29.5 per cent of the total economic activities licensed and regulated by Added, which stand at 4,062 activities as of the end of last year.
In 2021, nearly 7,106 new licences were issued under the Tajer Abu Dhabi category, representing 27.9 per cent of new economic permits issued in the emirate.
“Tajer Abu Dhabi new licences issued in 2021 alone represented nearly 50 per cent of all licences issued under it since the launch in 2017, indicating a positive response from entrepreneurs,” Mr Al Mansouri said.