Abu Dhabi Chamber signs MoUs with FTA, SCAD & eBay for private sector growth

By Arya M Nair, Official Reporter
  • Follow author on
Abu Dhabi Chamber signs MoU with EIC
Rep. Image

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed three Memoranda of Understanding (MoUs) with the Federal Tax Authority (FTA), the Statistics Centre, Abu Dhabi (SCAD), and eBay, to support the private sector in the Emirate of Abu Dhabi and enable it to reach its full potential.

The signing of the MoUs comes as part of the Chamber’s new strategy for the next three years and efforts to promote the growth of Abu Dhabi’s economy by empowering the private sector. It reflects the Chamber’s role as a policy advocator, networker, and service provider, as part of its new strategy.

Mohammed Helal Al Mheiri_Abu Dhabi Chamber supports private sector growth
Mohammed Helal Al Mheiri
Abu Dhabi Chamber

“The Chamber is proud to cooperate with leading local and international entities, who recognize its role as a trusted partner for the public and private sectors and a major supporter of private companies in Abu Dhabi. The Chamber strives to meet the needs of the private sector, provide private companies with knowledge and guidance, and familiarize them with the tax and legislative system. The Chamber began the execution of its new strategy, which has already started bringing about positive outcomes, especially with the signing of these agreements. During the coming period, we will continue working to strengthen our partnerships and harness the required expertise to benefit the private sector in Abu Dhabi.”

The MoU with the FTA aims to enhance cooperation and coordination in joint programs, initiatives, and projects and establish working committees to overcome the challenges facing the private sector in the Emirate. Under the terms of the MoUs, the two parties will also organize meetings and workshops for private companies and the business community to raise awareness about the tax regulations introduced in the UAE and enable them to take the necessary measures to ensure compliance with them.

His Excellency Khalid Ali Al Bustani, Director General of the Federal Tax Authority, said that “The agreement between the Authority and the Abu Dhabi Chamber aims to strengthen cooperation to continue improving the services that support and assist businesses. This aligns with the Authority’s plans to maintain an environment that influences tax compliance by following the best standards of governance and transparency. The Authority is committed to strengthening its strategic partnerships with the public and private sector, which play a key role in successfully implementing the tax system.”

The MoU with SCAD is to enhance cooperation between the two sides in data, exchange of experiences and knowledge, and developing statistical capabilities and competencies.

His Excellency Ahmed Mahmoud Fikri, Director General of SCAD, stated that “Data collaboration is imperative to the realization of the ambitions of our wise leadership, which entails the establishment of an advanced and integrated statistical ecosystem equipped with modern technologies to aid policymakers and maintain the overall competitiveness of the Emirate of Abu Dhabi.”

Furthermore, the Chamber signed an MoU with eBay as part of its efforts to support the eCommerce sector. As part of the MoU, members of the Chamber will receive a free subscription to the eBay store for three months, and have the opportunity to take part in training courses, which are specifically designed to teach them how to create a new digital store and expand into an existing store on the eBay platform.

Ms. Jenny Hui, General Manager, Global Emerging markets at eBay, commented that “There are already many UAE businesses successfully selling on eBay, and in fact, an item from the UAE is sold on eBay every 2 minutes. We are excited and honored to cooperate with our partner, the Abu Dhabi Chamber of Commerce, to help many more local businesses take their business globally, with unique support and benefits from eBay.”

Related: Dubai Customs & Dubai Chambers partner to support private sector