Abu Dhabi has launched four main initiatives in an effort to improve business operations and increase business growth across all sectors. These initiatives were announced on the first day of Abu Dhabi Business Week, or ADBW. They are divided into the launching of a new authority called Abu Dhabi Registration Authority, or ADRA; a new plan for the Khalifa Fund for Enterprise Development, or KFED; the establishment of the MEZN Venture Studios; and the launching of the Family Business Council.
It is a new setup brought about by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the crown prince of Abu Dhabi, who formed the Abu Dhabi Registration Authority to simplify business setup and regulatory compliance. ADRA, to be located centrally, will serve as one hub for business registration and reporting for both mainland Emirate and free zones with its activities aligned to both the UAE and international regulations.
Another highlight would include the establishment of an MEZN Venture Studios-industrial zone focused on technology-driven solutions and localizing industrial production. This can include the attraction of foreign direct investments with incentive packages which incorporate necessary infrastructure and available common services for key sectors.
The Khalifa Fund for Enterprise Development launched a rejuvenated strategy targeting small and medium-sized enterprises. With this refreshed approach, KFED is going to continue supporting businesses and facilitating the growth of enterprise by making tailored services available.
Also, the Abu Dhabi Chamber of Commerce and Industry (ADCCI) launched its new strategic roadmap, which will strengthen the Emirate’s business ecosystem. The roadmap focuses on connecting local businesses with global markets, improving ease of doing business, and supporting family-owned businesses with innovative solutions.
These initiatives are set to transform Abu Dhabi into a more dynamic business hub, reinforcing its status as a leading economic powerhouse.
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