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Abu Dhabi, UAEThursday 21 June 2018

Abu Dhabi sees growth in commercial licenses in the first half despite slowing economic growth

Over 4,500 business licenses issued in first half of the year

A view of Abu Dhabi skyline. Delores Johnson / The National
A view of Abu Dhabi skyline. Delores Johnson / The National

Despite the lacklustre regional economic growth brought about by the collapse in oil prices, some 4,538 commercial licenses were issued by Abu Dhabi in the first half of the year.

In its half annual report, the Abu Dhabi Business Centre said that 2,330 licenses were issued in the first quarter and 2,208 in the second quarter. The business centre did not give comparative figures for the same quarters last year.

“The movement of regular commercial licences reflects the extent of the rising economic activity in the emirate despite the global markets crises and impacts,” said Khalifa bin Salem Al Mansouri, Undersecretary of the Department of Economic Development.

“It shows the great interest of the business community and national and foreign investors to avail themselves of an opportunity, thanks to the existing administrative and legislative systems in the emirate.”

The total number of licenses in Abu Dhabi number 111,039, comprising commercial, industrial and tourist permits. Of the total, 71,696 are in Abu Dhabi, 30,605 are in the eastern region in Al Ain and 8,738 in Al Dhafrah. Of the total, 71,696 are in Abu Dhabi, 30,605 are in the eastern region in Al Ain and 8,738 in Al Dhafrah.