The Abu Dhabi Department of Economic Development (ADDED) has reported that 365 industrial facilities working in Abu Dhabi have incorporated commercial and service activities to their current licenses to enhance their business.
The revelation follows the Department’s Industrial Development Bureau’s (IDB) recent resolution that allowed the addition of 14 new commercial and service activities to industrial licenses, aimed at benefiting investors and business owners, establishing a promising investment environment, and increasing the ease of doing business in the Emirate.
Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, emphasized the positive response of industrial companies to the resolution demonstrating their interest in the expansion of businesses in Abu Dhabi, which in turn would increase their contribution to the business sector and increase their trade activities in the Emirates.
Mr. Al Blooshi stated that the resolution enabled industrial sector investors to increase their investments and to broaden the reach of their enterprises by complementing them with some related commercial and service activities.
He also mentioned that 306 industrial facilities have added ‘Onshore and Offshore Oil and Gas Fields and Facilities’ services to their licenses.
Also, Mr. Al Blooshi outlined the resolution seeks to enable manufacturing facilities to expand their enterprises and operations to make more profits, while at the same time increasing the level of competition of industry players to provide high-quality goods to the local market.
“The recent IDB report covering the updates of the resolution showed that around 120 industrial facilities added ‘Importing’ activities to their licenses, while 82 facilities added ‘Exporting’ activities to theirs. Other commercial and service activities added by facilities included the sale, transport, maintenance, and installation of their industrial products, among others. These findings confirm the significance of ADDED’s resolution to allow additional services and commercial activities for the industrial sector in Abu Dhabi.”
Earlier this year, Mohammed Al Shorafa, chairman of the Added mentioned that the economy of Abu Dhabi will expand by 6 percent to 8 percent over the next two years with growth driven by the oil sector, financial services, government spending, and foreign investment.