Abu Dhabi's Business Sector Sees Significant Growth in 2024

Post by: Pratik Kumar

Photo : Abu Dhabi Media Office

The Abu Dhabi Registration and Licensing Authority (ADRA), which is part of the Abu Dhabi Department of Economic Development (ADDED), has shared exciting news about the growth of businesses in Abu Dhabi. The news shows that both mainland and free zone areas in Abu Dhabi are doing really well when it comes to business licenses.

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In 2024, the number of new business licenses in Abu Dhabi's mainland grew by 16%. This shows that Abu Dhabi is becoming more popular for businesses from both inside and outside the UAE. The city’s rules and support for business owners make it an easy place to start a business.

Along with this, Abu Dhabi saw a 22% increase in active business licenses in the free zones that don’t focus on financial businesses. This shows that Abu Dhabi is working hard to meet both local and international rules and is becoming more competitive in the world.

The ADRA report also shows that the number of business licenses that were renewed in the mainland grew by 27%, showing that Abu Dhabi is becoming a better place for business owners. In total, active licenses went up by 9% compared to last year.

His Excellency Mohammed Munif Al Mansouri, Executive Director of ADRA, said: "This growth shows that Abu Dhabi is an attractive place for investors. The city has many opportunities for businesses, and we are working to make it easier for business owners to grow. We are committed to providing a friendly environment that helps businesses succeed."

ADRA has also introduced new programs that are helping specific types of businesses. For example, the Mobdea license helps Emirati women turn their creative ideas into real businesses. The number of Mobdea licenses grew by 72% from 1,456 in 2023 to 2,503 in 2024. This program allows women to run their businesses without needing a physical office and includes more than 50 types of businesses.

Freelancer licenses also grew by 104%, from 1,013 in 2023 to 2,065 in 2024. This license lets people with special skills work in more than 100 types of businesses. In 2024, the number of Emiratis getting this license grew by 371%, from 84 in 2023 to 396 in 2024. The Freelancer license helps UAE residents create jobs that require unique skills and knowledge, helping the economy grow.

The Tajer Abu Dhabi license also grew by 20%. A total of 7,187 new licenses were given in 2024, compared to 5,989 in 2023. This license is designed for small businesses and entrepreneurs, and they don’t need a physical office for the first three years. Since 2017, the number of businesses covered by this license has grown from just 30 to over 1,200.

This growth in business licenses shows how Abu Dhabi is becoming a more attractive and easier place to start and grow a business. ADRA’s work is helping the city become a better place for entrepreneurs, and these efforts support Abu Dhabi’s goal to grow and diversify its economy.

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