Abu Dhabi Experiences Rapid Business Growth

Abu Dhabi Experiences Rapid Business Growth
by Aswani

Abu Dhabi, a leading business destination, has added 80 economic activities in the year 2021. With this, the total number of economic activities comes to 4,062. The new activities cover the commercial segment (40), followed by professional (25), industrial (six), agricultural (five), crafts (two) and tourism (two).

“The new added economic activities reflect the vitality of the business sector in Abu Dhabi, which witnessed expansion in specialised activities,” said Mohammed Al Mansouri, executive director of the Abu Dhabi Business Centre, said.

It also reflects the Abu Dhabi Department of Economic Development’s efforts to ensure the ease of doing business as we regularly study the economic sector to know the market demands and requirements.

Abu Dhabi was successful in recovering from the pandemic rapidly via effective economic and investment policies of the leadership, key legislation and initiatives. The non-oil economy witnessed an annual 4.1 per cent rise in the year 2021, which was the result of major growth in sectors that include agriculture, forestry and fishing. A total of 25, 427 new economic licenses were issued in 2021; an increase by 21 per cent when compared to the prior year.

According to Rashed Abdulkarim Al Blooshi, undersecretary, Added, ‘Abu Dhabi could overcome several challenges during the pandemic because of a supportive business environment’. “Our economic performance in 2021 shows the fast and solid recovery of sectors affected by Covid-19, thanks to our leadership’s vision and initiatives to mitigate negative impacts of the global pandemic on the local economy. We are forging ahead with plans to foster businesses in key priority sectors to expand and accelerate our economic diversification strategy. In the past few months, Abu Dhabi has taken great strides by launching new legislations, policies, and initiatives to strengthen its position as a preferred destination for business and investments,” added Al Blooshi.

Abu Dhabi is undoubtedly the best place to set up a business. The expat-friendly business policies coupled with cost-effectiveness make it even more attractive. If you are planning to set up your company, the assistance of a business consultancy firm in Abu Dhabi is highly recommended. HLB Abu Dhabi has been in business for decades and can assist you in establishing your base in the emirate. Contact us for further information.