Abu Dhabi added 80 economic activities in 2021

Broadcasting, eSports event management, securities, mortgage and social innovation were included

Abu Dhabi's economy has recovered strongly from the pandemic. Shutterstock

Abu Dhabi added 80 economic activities in 2021 spanning key sectors as the emirate seeks to attract more businesses as the recovery from the coronavirus pandemic continues.

Last year's additions brought the total number of economic activities to 4,062, reflecting the appeal of the capital's entrepreneurship scene, the Abu Dhabi Business Centre, a unit of the emirate's Department of Economic Development (Added), said on Monday.

The new activities cover the commercial segment (40), followed by professional (25), industrial (six), agricultural (five), crafts (two) and tourism (two), a statement said.

“The new added economic activities reflect the vitality of the business sector in Abu Dhabi, which witnesses expansion in specialised activities,” Mohammed Al Mansouri, executive director of the Abu Dhabi Business Centre, said.

“It also reflects the Abu Dhabi Department of Economic Development's efforts to ensure the ease of doing business as we regularly study the economic sector to know the market demands and requirements.”

Abu Dhabi's economy has recovered strongly from the pandemic, with its non-oil economy rising an annual 4.1 per cent in 2021, driven by robust government policies.

The growth was led by the agriculture, forestry and fishing sector, which surged by more than 23 per cent on a yearly basis, data from the Statistics Centre – Abu Dhabi showed.

In the same week, Added said the number of new economic licences issued in the emirate rose 22 per cent in 2021 to 25,427, owing to government initiatives that strengthened investor confidence.

“Adding new activities allows entrepreneurs to issue necessary licences to do business and launch their projects, which will contribute positively to commercial activity and economic development in Abu Dhabi,” Mr Al Mansouri said.

In January, Abu Dhabi removed more than 20,000 requirements to set up businesses in the emirate as part of an overhaul led by Added as it aims to attract more investment.

The revamp began in August last year, the month Abu Dhabi cut the number of requirements to set up a business in the emirate by 71 per cent.

A month earlier, Added and other government entities cut business set-up fees by 94 per cent to Dh1,000 ($272). Additional fee reductions were announced in September as the emirate sought to boost its competitiveness.

New commercial undertakings added in 2021 included activities ranging from broadcasting and eSports event management to securities and mortgages, as well as insurance and social innovation.

The industrial sector added the manufacture of military equipment and systems, while agriculture added bee-keeping and the breeding of animals to its set of activities.

The professional category included activities for customs consultancy, military aviation, cyber security, gaming and farmer training, while new crafts and artisan activities included engine cleaning and military ship maintenance.