16% growth in new economic licences in Abu Dhabi during 2024

The Abu Dhabi Registration and Licensing Authority (ADRA), which develops and regulates the business sector, on Monday revealed significant growth in business licences and compliance indicators in the Emirate's mainland and non-financial economic free zones during 2024.

The number of new economic licences in the Emirate's mainland increased by 16 per cent compared to 2023, underscoring Abu Dhabi's attractiveness as a destination for local and international businesses and investments due to its business-friendly ecosystem and world-class transparency and governance standards.

Additionally, Abu Dhabi witnessed a growth of 22 per cent of active licences in the non-financial economic free zones. The number of 'Real beneficiary' requests reached 47,291, reflecting the effectiveness of initiatives launched by the Emirate over the past few years to enhance compliance with local and international standards and strengthen Abu Dhabi economy's competitiveness.

ADRA reported a 27 per cent increase in renewed licences in the Emirate's mainland and a 9 per cent in active licences compared to 2023.

Mohammed Munif Al Mansouri, Acting Director-General of ADRA, said, "The high-growth rates in economic licences reaffirm Abu Dhabi's attractiveness to investors and entrepreneurs to benefit from the Emirate's thriving economy and its promising opportunities."

He added that over the past year, the ADRA's initiatives to enhance ease of doing business, empower women, and expand economic activities have significantly increased certain licence categories, such as Tajer Abu Dhabi (Abu Dhabi Trader), freelancer, and the "Mobdea".

"We reaffirm our steadfast commitment to providing the ideal environment for entrepreneurs and investors, aligning with the Emirate's initiatives to accelerate growth and diversification, and continuously develop legislative and regulatory frameworks while advancing digital transformation," he noted.

The "Mobdea" licences, designated for Emirati women to turn their creative passions into commercial endeavours, grew from 1,456 licences in 2023 to 2,503 last year, with a 72 per cent increase. This growth is a result of the Emirate's continuous efforts to empower women in the economy, enabling them to conduct their businesses without needing physical premises, covering more than 50 economic activities.

Freelancer licences have also grown significantly from 1,013 in 2023 to 2,065 in 2024, reflecting a 104 per cent increase. Among these, licences issued to Emirati nationals rose by 371 per cent, from 84 in 2023 to 396 in 2024. The growth rate for new licences issued to other nationalities ranged from 20 per cent to 107 per cent.

The "Tajer Abu Dhabi" licences increased by 20 per cent, with 7,187 licences issued last year compared to 5,989 in 2023.

Recently, 12 new economic activities were added to this licence category, allowing entrepreneurs and micro, small, and medium enterprises to start their businesses without needing physical premises for the first three years. The number of economic activities covered under this licence has grown to more than 1,200, compared to just 30 when it was first introduced in 2017.