Abu Dhabi sees surge in business activity

File picture [for illustration]

As many as 25,647 new economic licences were issued in Abu Dhabi in 2023, while 75,778 licences were renewed.

The total capital of these newly licensed firms exceeded AED 210.7 billion.

According to the Abu Dhabi Department of Economic Development's (ADDED) Business Activity Report, the number of active business licences in the emirate has increased to 143,617, a growth of 10.9 per cent compared to 2022.

In 2023, Abu Dhabi witnessed growth in the professional, tourism, industrial, agricultural, fishery and livestock sectors, with the number of new industrial licences during the past year reaching 363, an increase of 51.25 per cent.

New tourism licences reached 219, a growth of 22.35 per cent, while the rate of new licences in the agriculture, fishery and livestock sectors increased 288.46 per cent compared to 2022.

"The findings show that we are delivering the objectives of economic diversification strategy through infrastructure and digital transformation and the continuous development of legislative and regulatory frameworks," said Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED.

 

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