UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has issued a new administrative resolution, Number 70 of 2019, that enables licensed industrial companies within the UAE’s capital to add commercial and service activities to their existing licences.
The move is part of the ADDED’s strategy to improve the industrial sector’s role in supporting economic prosperity in the emirate, as well as boosting investments to add more value for the segment, ADDED said in a press release.
The new resolution will help promote the services sector in Abu Dhabi and encourage industrial companies to extend their business and become more profitable, in addition to boosting competitiveness among different workers in similar industries within the sector.
The commercial or service activities include “sales, installation, design, distribution, transportation, maintenance, import, export, management and operations, warehousing, consultancy, studies and research in the fields of natural and engineering sciences, and services offered by offshore and onshore oil and gas fields and facilities.”
Saif Mohamed Al Hajeri, chairman of ADDED, said: “This newly issued resolution is an affirmation of the department's strong seated commitment towards implementing the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to enhance the local industrial sector’s key role in providing much needed support to the emirate's investors, attracting more investments and helping achieve economic diversification.”
Al Hajeri also added that the resolution shows the ADDED’s determination to offer further jobs within the industrial sector, as well as improve the sector and help increase the revenue of these industrial enterprises.
Accordingly, this will help these companies to expand their business and investments by adding a number of specific commercial and service activities to their licence, he noted.
This will bolster the Abu Dhabi government’s vision to boost the emirate’s position as a global destination for investment and economic activities across various sectors.
