Abu Dhabi unveils new feature to ease business set-up
Investor Journey will offer a range of services to business owners wanting to establish companies in the emirate
The Abu Dhabi Department of Economic Development (Added) has unveiled a new feature that unifies business set-up procedures in the emirate to increase the ease of doing business.
The Investor Journey, part of Abu Dhabi Government Services Ecosystem Tamm, will allow investors to use a range of services with minimal physical touch points, the department said in a statement on Thursday.
Additionally, the transactions and approval procedures of various government entities have been unified and embedded into this feature.
“Added has already rolled out critical projects including phase 2 of the Investor Journey, which will integrate more services and business set-up tools and features,” said Mohammed Al Shorafa, chairman of Added.
“Moreover, Added continues to undertake comprehensive reviews of direct and indirect costs, including regulatory and administrative burdens on the private sector in co-operation with both local and federal entities.”READ MOREAbu Dhabi’s move to cut business set-up fees set to boost FDI and non-oil economy
Abu Dhabi has taken various measures – such as providing rent rebates, discounts on utility bills and loan guarantee packages – to support businesses and stimulate economic growth throughout the coronavirus pandemic.
Last month, Added removed more than 20,000 requirements to set-up businesses in the emirate. This followed another move last year to slash business set-up fees by 94 per cent to strengthen the capital’s position as a destination for new ventures and boost foreign direct investment.
Features offered to business owners through Investor Journey include a “simulator” that allows them to seek clarity and instructions, and a “Licence Finder” to help identify suitable legal forms and licence types and an easy application process for obtaining trade names and licences.
Investors can also identify locations for their businesses through an interactive map using “Property Finder”, obtain digital contracts and Certificates of Conformity (CoC) by Abu Dhabi Civil Defence Authority and initiate processes for bank account applications.
The platform will also forge a partnership with Mashreq Bank as part of the launch phase, Added said, without providing more details.
“One of the main priorities for the government support sector is to enable and support an integrated and proactive digital government, facilitated through advanced and innovative solutions,” said Ali Al Ketbi, chairman of the Department of Government Support – Abu Dhabi.
“This would enable a future-ready government as per the vision and aspirations of the wise leadership in regards to achieving government excellence through adopting innovation and utilising the latest digital solutions.”