The report of economic activity in the Emirate of Abu Dhabi for the second quarter 2018

4 September 2018
The number of new economic licenses registered by Abu Dhabi Business Center of the Department of Economic Development in Abu Dhabi during the second quarter of this year was 2671 with an increase of 21% compared to the same quarter last year, which amounted to 2205 new licenses.
This came within the results of the 2018-second quarter report of the economic activity in Abu Dhabi issued by Abu Dhabi Business Center of the Department, which monitors the licenses of economic activities, new issuance, renewal, modification, permits, advertisements, violations, fees and other transactions movements for various types of economic, professional, commercial, occupational, agricultural, fishery and animal resources licenses.
According to the report, the total number of the new commercial licenses registered in the emirate reached 2,527 licenses during the second quarter of this year compared to 2,026 licenses during the same quarter last year with an increase of 24.7%.

The report added that during the second quarter of this year, the number of new professional licenses reached 47 licenses, 4 agricultural and fishery resources new licenses, 39 tourist licenses, 8 industrial licenses and 50 occupational licenses.
HE Mohammad Munif Al Mansouri, Executive Director of the Abu Dhabi Business Center, said that the Department of Economic Development has developed a clear strategy to promote the business sector to make Abu Dhabi a magnet for investment and businessmen through the implementation of plans, programs, regulations and systems governing the labor market and ensuring the application of best practices, which entitle Abu Dhabi to achieve advanced positions In the international competitiveness reports.
The Abu Dhabi Business Center report observed the legal status of the new economic licenses registered in the Emirate of Abu Dhabi during the second quarter of 2018, where the form of individual establishment recorded the largest percentage of 1,637 licenses, an increase of 23.5% over the same quarter last year amounting to 1,325 licenses.
The Center pointed out that limited liability company registered 354 licenses in the second quarter of this year, followed by 166 licenses of one person company and one license of public shareholding company, 2 professional companies and 515 branch licenses.
HE Mohammad Munif Al Mansouri said that these data confirm the continued high demand for licenses issued with commercial activity during the past years, reflecting the expansion of the large commercial market witnessed by the Emirate of Abu Dhabi in consideration of the urban expansion witnessed by the Emirate.
He said that this reflects the great interest that the businessmen and investors, citizens and foreigners have in obtaining successful investment opportunities in light of Abu Dhabi's administrative and legislative system that meets international standards and standards that have enabled it to achieve significant progress in international competitiveness reports.
The report said that the total number of economic licenses renewed during the second quarter of this year amounted to 20,798 licenses compared to 21570 licenses during the same quarter last year, noting that the commercial licenses which were renewed during the second quarter 2018 amounted to 16,334 licenses, 434 professional licenses, 579 occupational license, 421 tourist licenses , 27 Agricultural and Fishery and animal resources Licenses.
In regard of the legal status of the economic licenses which were renewed during the second quarter of 2018, the form of the individual establishment registered a renewal of 12,797 licenses followed by a limited liability company with 4,392 licenses, 3,101 branches, 377 one person company licenses, 45 partnership companies licenses, 34 public joint-stock companies licenses, 30 limited partnership companies licenses, 18 private joint-stock companies licenses, 3 cooperative societies licenses and one professional companies license.
HE Mohammad Munif Al Mansouri said that the high rates of renewing commercial licenses during the second quarter of this year reflects the interest and keenness of businessmen to continue to enhance their economic activities in the emirate and the clear confidence in all procedures and systems followed by the emirate to provide an ideal business environment that benefits the emirate's community.
According to the report, during the second quarter of 2018, 7950 economic licenses were amended, including the addition or modification of the activities, changing the location of the activity, the trade name, the owner, commercial partners and other modification movements of the commercial activity, distributed over 6,756 commercial licenses, 837 professional, 164 tourists, 5 agricultural and fishery resources and 188 occupational Licenses.

HE Mohammad Munif Al Mansouri explained in this regard, that most of the amendments to the economic license activities during the second quarter of 2018 showed that companies want to add business activities to their registered activities, reflecting the significant expansion of these companies in the exercise of additional activities, which is considered an indication of the success of their business.
The economic license transactions statistics in the Emirate of Abu Dhabi during the second quarter of 2018 included issuance of 1,824 permits and announcements to economic license holders compared to 1,664 permits and announcements during the same quarter last year with an increase of 9.6%.
During the second quarter of this year, 2,967 applications for promotions were approved for registered economic license holders against 2,933 applications during the last quarter of last year with an increase of 1.1%. In addition, 79 applications were approved for the installation of billboards for shops, compared to 47 applications during the same quarter last year with an increase of 68%.
During the second quarter of this year, the number of transactions of economic license recorded reservation of 6,004 commercial names for different economic activities, compared with 5,326 commercial names were reserved during the same period of last year, with an increase of 12.7%, while 474 names reservations were renewed compared with 542 names during the same period.

Press releases:
Jalal A. Saleh Al Massabi
Media specialist
Communication
Undersecrtary's Office

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