Abu Dhabi’s Business Activity Report for 2023, issued by the Abu Dhabi Department of Economic Development (ADDED), shows significant growth in major indicators, highlighting the attractiveness of the business ecosystem and its ability to attract quality investments. The report shows that the Emirate’s strong economic growth, particularly in non-oil sectors, contributes 52.8% of Abu Dhabi’s GDP. In 2023, 24,143 commercial sector licenses were issued, with 94.1% of the total. The total capital of new economic licenses announced exceeded AED210.7 billion.
In 2023, 25,647 new economic licenses were issued, with 75,778 licenses renewed, a 3.5% growth. Active licenses in the Emirate increased to 143,617, a 10.9% increase compared to 2022. The professional, tourism, industrial, agricultural, fishery, and livestock sectors saw remarkable growth, with new industrial licenses reaching 363, a 51.25% increase. New tourism licenses reached 219, a 22.35% increase, and the growth rate of new licenses in agriculture, fishery, and livestock reached 288.46% compared to 2022.
The report also highlighted the rise in ‘Real beneficiary’ requests, which increased from 16,282 to 49,163, a 201.9% increase. Undersecretary Rashed Abdulkarim Al Blooshi praised the report for demonstrating the Emirate’s ability to attract quality investments and demonstrate the effectiveness of initiatives launched by ADDED.
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