Abu Dhabi Introduces ‘Unified Economic License’ to Enhance Business Operations
Abu Dhabi has introduced the ‘Unified Economic License’ to streamline the process of setting up businesses in the Emirate.
4 min
The Abu Dhabi Department of Economic Development (ADDED), in collaboration with the Abu Dhabi Free Zones Council, has introduced the Unified Economic License in Abu Dhabi.
This initiative, led by Khalifa Economic Zones Abu Dhabi (KEZAD Group), Abu Dhabi Airports Free Zone (ADAFZ), Masdar City Free Zone, and Creative Media Authority (CMA), aims to enhance the Emirate’s appeal as a business-friendly destination for investors and entrepreneurs.
The new initiative unifies procedures for registering economic licenses across the Emirate and its free zones, in a move to streamline business setup and reinforce governance and transparency. This will introduce a standardized reference number for all licenses and ensure company data remains current within a newly integrated Abu Dhabi registry, simplifying data management and fostering collaboration between free zones and mainland authorities.
Investors will benefit from a seamless and faster digital setup process, reflecting Abu Dhabi’s commitment to continuously improve the business ecosystem and solidify Abu Dhabi’s position as a global business hub. To ensure a smooth transition, representatives from entities responsible for economic license registration have formed a task force.
Ahmed Jasim Al Zaabi, Chairman of ADDED and the Abu Dhabi Free Zones Council, said, “Free zones play a significant role in our economic diversification and attraction of foreign direct investments (FDIs) in key targeted sectors. Unifying the licensing process of economic establishments in the Emirate is a pivotal step, underscoring Abu Dhabi’s commitment to enhancing a business ecosystem that aligns with global standards, empowers investors, entrepreneurs, and exceptional talents to capitalize on the extensive and promising opportunities offered by the Emirate’s dynamic and thriving economy. This is achieved through the revision and enhancement of legislative and regulatory frameworks, and accelerated efforts in digital transformation.”
“We are working alongside our strategic partners and all other stakeholders to create the necessary framework and activate an efficient system that unifies all registration activities. We will continue to develop this partnership to meet investors’ needs and to ensure that Abu Dhabi has the best conditions for ease of establishing and doing business, while increasing its global competitiveness and achieving our strategic goals,” H.E. Al Zaabi added.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said, “AD Ports Group and its subsidiary KEZAD Group welcome the Abu Dhabi Free Zones Council’s initiative to unify the licensing process of economic establishments in Abu Dhabi. This collaboration exemplifies our commitment to creating a streamlined and efficient business environment that aligns with global standards. By enhancing our legislative and regulatory frameworks and accelerating our digital transformation efforts, we are empowering investors, entrepreneurs, and exceptional talents to fully leverage the extensive opportunities within our thriving economy.
“This unified system will facilitate easier business establishment and significantly boost Abu Dhabi’s global competitiveness. We look forward to continuing our partnership with ADDED, ADAFZ, Masdar City Free Zone, and Creative Media Authority to achieve our shared strategic goals and ensure Abu Dhabi remains a premier destination for business and investment,” he added.
Elena Sorlini, Managing Director and Chief Executive Officer at Abu Dhabi Airports, said, “At Abu Dhabi Airports Free Zone, our strategic vision is to establish Abu Dhabi as a premier global business hub catering to a diverse investor base. Central to our mission is facilitating seamless business operations, and we wholeheartedly support initiatives that aim to create a conducive business environment that attracts investors across target sectors. Our collaborative efforts to unify licensing for economic establishments will significantly streamline and enhance Abu Dhabi’s business landscape. This alignment with the emirate’s ambition fosters sustainable economic growth through increased diversification, ultimately advancing Abu Dhabi’s economic development aspirations.”
Ahmed Baghoum, Chief Executive Officer of Masdar City, praised the initiative to consolidate the registration and licensing of economic establishments in the Emirate of Abu Dhabi. He remarked, “This pivotal measure fortifies the business ecosystem within the emirate and elevates its standing on the global competitiveness stage. It is in perfect alignment with Masdar City’s strategic objective to bolster and advance Abu Dhabi’s sustainable economic framework.”
Baghoum further elaborated that this initiative is integral to the continuous evolution of the capital’s economic landscape and exemplifies the strategic approach of the Masdar City Free Zone. This strategy centralizes all services, simplifying the licensing and investment processes for new enterprises. It actively fosters an inviting environment for entrepreneurs and investors, enhancing the legal and regulatory framework to support business endeavors and expand opportunities for sustainable economic development in the emirate. “Masdar City remains steadfast in this mission, underscoring our unwavering commitment to realizing Abu Dhabi’s economic vision”, he added.
Mohamed Dobay, Acting Director-General of the Creative Media Authority, said, “We are proud of the strategic partnership with the Department of Economic Development and all economic sectors in Abu Dhabi, as the MoU and the initiative to unify and facilitate the registration procedures is a remarkable step aligns with our goal, maintaining Abu Dhabi’s position as a leading global destination for creative and media companies”.
The mandate of Abu Dhabi Free Zones Council, which was established in 2021, is raising the standards for collaboration between free zones and other entities in the Emirate, developing policies and legislations as well as key performance indicators to ensure alignment with socio-economic strategies.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
With the growing global demand for digital infrastructure, Damac has been expanding its footprint in this important sector.
2 min
Damac Group, a renowned conglomerate with a diverse investment portfolio of luxury real estate, hospitality, property management, and logistics, has announced its plan to invest up to $1 billion in the data centers sector over the next few years.
Recognizing the increasing global demand for digital infrastructure, Damac has been expanding its footprint in this crucial sector. A significant milestone in Damac’s diversification strategy was the launch of Edgnex Data Centers in 2021, which has enabled the group to capitalize on the growing need for robust digital infrastructure.
According to Damac, Edgnex is making significant strides in Saudi Arabia, with facilities under construction in Dammam and Riyadh that will deliver 55MW by 2025. Additionally, plans are underway for a data centre in Amman, Jordan, and another in Turkey in partnership with Vodafone.
In May, Damac had announced its entry into the Indonesian market with plans to build a data center in Jakarta. The 15MW facility, located along MT Haryono, is scheduled to complete its first construction phase in the fourth quarter of 2025.
“This substantial investment in the data center sector reflects our commitment to advancing digital infrastructure and supporting the technological transitions that are essential for future growth and innovation,” said Hussain Sajwani, the Founder and Chairman of Damac Group.
In addition to the technological transitions and diversification, particularly in the data centers sector, Damac Group is heavily focusing on its Artificial Intelligence (AI) investments.
The increased focus on AI and technological infrastructure, he stated, is expected to bolster the Group’s existing portfolio and pave the way for new strategic partnerships and collaborations.
By investing in AI and data centers, it aims to leverage advanced technologies to create value and drive sustainable growth, he added.
The Damac Group’s diversified family office has already invested in over 70 funds across various strategies, demonstrating its commitment to fostering innovation and growth across multiple industries.
With this new focus on AI, the Group aims to further enhance its role in advancing foundational AI models and infrastructure.
“As a forward-thinking organization, we recognize the transformative potential of AI in shaping the future,” remarked Sajwani.
“Our increased investment in AI reflects our commitment to supporting the development of groundbreaking technologies that can drive significant progress and create new opportunities across various sectors,” he stated.
According to him, Damac has made notable investments in leading AI companies including a $50 million in the AI startup, Anthropic – as one of the top investors who have bought into the company from the bankrupt cryptocurrency exchange, FTX.
Also it has made investments in xAI – an American AI startup founded by Elon Musk and in Mistral – a France-based AI company which is one of the best European large-language model open source.
“We are excited to be part of the AI revolution and to contribute to the growth of this dynamic industry,” said Sajwani.
“Our investments in companies like Mistral, Anthropic, and xAI underscore our dedication to fostering innovation and driving the next wave of technological advancements,” he added.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
