Abu Dhabi:The emirate is striving to establish a new global benchmark for business competitiveness by focusing on the duration from investment decision to operational status as a key indicator of the investor journey. This initiative emphasizes simplifying requirements, speeding up approvals, and enhancing coordination among government entities and necessary business services.
According to Emirates News Agency, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), highlighted the importance of expediting business establishment and operation to boost Abu Dhabi's competitiveness and attractiveness for investment. He stressed that speed must be accompanied by clear, accessible, and predictable procedures.
The approach goes beyond reducing government transaction processing times, encompassing the entire investor journey from the decision to invest to the commencement of operations. This involves simplifying procedures, clarifying requirements, and eliminating redundant steps to enable a seamless experience for investors, allowing them to plan with confidence and launch more quickly.
Abu Dhabi's ongoing reforms to its business ecosystem have laid the foundation for this initiative. In 2021, a joint effort by over 20 government entities reduced the requirements for establishing new commercial activities by 71 percent. The ADDED, in collaboration with the Department of Government Enablement - Abu Dhabi, launched the Investor Journey on the TAMM platform, integrating government transactions and approvals into a single digital process, which has been expanded to include services from banks, telecommunications providers, and insurers.
The next phase will prioritize streamlining operational requirements like approvals, permits, premises preparation, utility connections, and financial arrangements. This will involve closer coordination among relevant entities to further reduce the time required for companies to begin operations.
Al Zaabi noted that creating a competitive economic environment is a collective effort involving government, businesses, investors, and institutions, emphasizing that no single entity can achieve this environment alone. Recent government initiatives, such as the Government Asset Investment service launched via TAMM, reflect this collaborative approach.
In trade, the share of pre-arrival customs clearance transactions significantly increased, demonstrating the impact of digital integration in accelerating trade flows. Abu Dhabi's approach is also backed by a robust economic base, with non-oil activities contributing significantly to the emirate's GDP and a noticeable increase in new economic licenses.
Al Zaabi stated, "Behind every new licence is a decision made by an entrepreneur, an investor or a family to build their future here." Through regulatory reform, digital integration, and coordinated services, Abu Dhabi is working to translate this momentum into businesses that launch, operate, and expand more rapidly, solidifying its status as a global benchmark for an efficient investor journey.