By Andrei Skvarsky.
Abu Dhabi has launched an initiative to simplify its registration rules for expat businesses by replacing the current range of licence types with a single standard type, the Unified Economic Licence, in a measure seen as instrumental for the emirate’s free zones.
Abu Dhabi’s five free zones, which represent a variety of industries, “play a significant role in our economic diversification and attraction of foreign direct investments (FDIs) in key targeted sectors,” a report from United Arab Emirates news agency WAM quoted Abu Dhabi Economic Development Department (ADDED) chairman and Free Zones Council head Ahmed Jasim Al Zaabi as saying.
Companies will have their data recorded in a new integrated registry, WAM said.
A task force has been set up to oversee the introduction of the Unified Economic Licence.
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