Abu Dhabi Reports 16% Increase In New Economic Licences During 2024

The Abu Dhabi Registration and Licensing Authority (ADRA), part of the Abu Dhabi Department of Economic Development (ADDED), has reported a notable rise in business licences and compliance indicators for 2024. The Emirate's mainland saw a 16% increase in new economic licences compared to 2023, highlighting its appeal to both local and international investors due to its supportive business environment and high governance standards.

In the non-financial economic free zones, active licences grew by 22%. This growth reflects the success of initiatives aimed at boosting compliance with both local and international standards. The number of 'Real beneficiary' requests reached 47,291, showcasing efforts to enhance competitiveness within Abu Dhabi's economy. ADRA also noted a 27% rise in renewed licences on the mainland and a 9% increase in active licences compared to last year.

The "Mobdea" licence, designed for Emirati women to transform their creative talents into businesses, saw a significant rise from 1,456 licences in 2023 to 2,503 last year—a remarkable 72% increase. This initiative allows women to operate without physical premises across over 50 economic activities, reflecting ongoing efforts to empower women economically.

Freelancer licences have also seen substantial growth, doubling from 1,013 in 2023 to 2,065 in 2024. Licences issued to Emirati nationals surged by an impressive 371%, from 84 in 2023 to 396 this year. For other nationalities, growth rates varied between 20% and 107%. These licences enable UAE nationals and residents with specialised skills to engage in over 100 economic activities at minimal cost.

Expansion of Tajer Abu Dhabi Licences

The "Tajer Abu Dhabi" licence category experienced a growth of 20%, with the number rising from 5,989 in 2023 to 7,187 last year. Recently expanded by adding twelve new economic activities, this licence allows entrepreneurs and small businesses to start operations without needing physical premises for three years. Initially covering only thirty activities when introduced in 2017, it now encompasses over twelve hundred.

Mohammed Munif Al Mansouri, Acting Director-General of ADRA, stated that these high-growth rates confirm Abu Dhabi's attractiveness for investors and entrepreneurs seeking opportunities within its thriving economy. He emphasised ADRA's commitment to creating an ideal environment for business growth through legislative advancements and digital transformation initiatives.

He further added that ADRA's recent initiatives have significantly boosted certain licence categories like Tajer Abu Dhabi (Abu Dhabi Trader), freelancer, and Mobdea. "We reaffirm our steadfast commitment to providing the ideal environment for entrepreneurs and investors," he noted.

Abu Dhabi continues its efforts towards fostering a knowledge-based economy driven by innovation. By enhancing ease of doing business and empowering diverse groups such as women entrepreneurs through targeted initiatives like Mobdea licences or freelancer permits—Abu Dhabi aims at accelerating growth while ensuring sustainable development across various sectors.

With inputs from WAM