Tuesday 16 July 2019
 
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BIG STRATEGIC MOVE

Abu Dhabi opens commercial, service sector to industrial firms

ABU DHABI, 6 days ago

In a major move aimed at achieving the emirate’s economic prosperity and helping expand investment activity to gain more value for the segment, the Abu Dhabi Department of Economic Development (ADDED) has issued a new resolution that now permits licensed industrial companies in the emirate to add commercial and service activities to their existing licences.

As per administrative resolution number 70 of 2019, which was issued by ADDED, industrial establishments in Abu Dhabi would be allowed to add some of the commercial or service activities that support the licensed industrial activities, including 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.

The resolution also stipulates that industrial companies wishing to add any of the mentioned activities are enjoined to comply with the regulations related to the added activity according to the requirements of the competent authorities; readiness of the factory site to include this new activity regarding having a sufficient space and the non-interference between the production lines and the display area, it stated.

The move is part of ADDED’s strategy to enhance the key role of the industrial sector and turn it into a key driver in the emirate's economic development process, it added.

Saif Mohamed Al Hajeri, the chairman of ADDED, said this newly issued resolution is an affirmation of the department's strong seated commitment towards implementing the directives of the Abu Dhabi leadership 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.

“The resolution demonstrates our keenness to bring further development to the business sector, opening and providing more job opportunities within the industrial sector and increasing the revenue of these industrial enterprises, which in turn, will allow them to expand their business and investments by adding a number of specific commercial and service activities to their license,” added Al Hajeri.

He further emphasized on ADDED’s proactive role in adopting economic policies and strategies that contribute to achieve Abu Dhabi government’s vision to enhance its position as a global destination for investment and economic activities across various sectors.

The resolution aims at expanding the services sector in Abu Dhabi, which encourages industrial enterprises to expand their activities to achieve more profits, said the statement from ADDED.

The issuance of the new resolution is being expected to contribute to the provision of industrial products at the lowest prices, by enhancing the competitiveness among different workers in similar industries within the sector, it added.-TradeArabia News Service




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