The Department of Economic Development (DED) - Abu Dhabi has launched a number of initiatives since the beginning of the year to drive economic growth in the emirate by bolstering the investment-conducive environment boasted by the emirate, and accelerating FDI inflows.

 

In collaboration with the Executive Committee of Executive Board of Abu Dhabi, the emirate’s Smart Solutions and Services Authority, DED has launched "Tamm", a new system for the electronic issue of economic licences. reported state news agency Wam.

 

Tamm represents a paradigm transformation at the international level, enabling the issuance of an economic licence for investors at the earliest possible moment, from anywhere, without the need to visiting any relevant government authority, it stated.

 

It comes in alignment to the vision and direction set forth by the executive committee and the economic stimulus package approved by Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Board of Abu Dhabi, aimed at strengthening the economic development and progress of Abu Dhabi for the coming three years.

 

DED also announced recently that it has expanded its Tajer Abu Dhabi licence package by opening it up to all GCC nationals and UAE residents and increasing the number of eligible activities to 1,057 commercial activities, all exempted from having a physical presence or an office, it added. 

 

The department also expanded the legal formats accepted under Tajer Abu Dhabi licence to three: Establishment and one-person company for Emiratis and GCC nationals, and limited liability company for residents in partnership with Emiratis.

 

Tajer Abu Dhabi was originally launched by DED late last year allowing Emiratis to establish businesses in 100 different business activities without the need of physical presence.

 

The electronic service also sped up the licensing process with licenses granted in only two steps; entering data and paying fees after a review of the application, said the report.

 

Most recently, DED has launched the smart information board "Al Marsad" (Observatory) as part of its investment in the latest artificial intelligence technologies and applications, it added.