Abu Dhabi– Mubasher: The number of new economic licences issued by the Abu Dhabi Department of Economic Development (ADDED) increased by 63.9% to 18,628 in 2019 from 11,366 in 2018.
Commercial licences represented 94.7% of total new licences, recording 17,642 in 2019, compared to 10,608 in the prior year, according to the 2019 Business Activity report by the Abu Dhabi Business Centre (ADBC).
Meanwhile, 80,477 economic licences were renewed in 2019, reflecting the rapid growth of Abu Dhabi’s business sectors.
The undersecretary of ADDED, Rashed Abdul Karim Al Balooshi, said: “The growth in economic licensing is attributed to ADDED’s successful initiatives and concerted efforts towards fostering economic growth in the emirate, which falls in line with Abu Dhabi Government’s vision to develop and stimulate a business incubating environment and facilitate economic transactions.”
