Abu Dhabi has indicated strong growth in its business sector by issuing a total of 25,593 new economic licenses last year, and renewing 73,212 licenses.
New licenses in professional, tourism and industrial sectors witnessed a significant growth.
Professional licenses witnessed an increase of 161% from 243 in 2021 to 635 in 2022. Tourism sector licenses grew to 181 in 2022 from 126 in 2021, an increase of 43.6% , while industrial sector licenses rose to 243 from 206 licenses in 2021, a 17.9% rise.
Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said: “The continued growth of new and renewed economic licenses reflects the success of policies and initiatives launched by Abu Dhabi to forge ahead with its diversification strategy and the ongoing improvement of legislative and regulatory framework as well as infrastructure and digital transformation in order to offer compelling opportunities in different sectors to investors."
According to the Business Activity Report, 23,947 commercial sector licenses were issued in 2022, comprising 93.5% of total new licenses. 560 occupational and 25 agricultural, livestock and fishery sector new licenses were issued in 2022.
(Writing by Seban Scaria; editing by Daniel Luiz)