Business & Money | Sunday 14 July, 2019 1:19 pm |

The Abu Dhabi Department of Economic Development (ADDED) expressed confidence in the newly launched ‘Tech Licenses Package’ initiative, which demonstrates the department’s leading strategic vision to be at pace with the latest technologies and developments to help drive in sustainable growth for the emirate’s economy. The new initiative is also expected to help in enhancing the business environment for local businesses and supporting entrepreneurs by providing them with the much-needed knowledge, making Abu Dhabi regionally and globally competitive.

The new Tech Licenses initiative, which is part of the Abu Dhabi Development Accelerators Programme ‘Ghadan 21,’ covers 13 economic activities across the fields of technology and innovation. 

The economic activities include autonomous and near autonomous vehicles, communications and sensing, advanced materials and manufacturing robotics, Artificial Intelligence (AI) and autonomous systems, energy technology, biomedical science and human augmentation, mixed reality and digital mimicry, cloud services and cloud computing, space technology, technology for climate change adaptation, synthetic biology, technology for food and water security, and quantum computing. 

 

H.E Saif Mohamed Al Hajeri, Chairman of ADDED, explained that the new initiative is the latest addition to the range of business opportunities for the private sector in line with ADDED’s recent licensing initiatives, which enable the business community to contribute to Abu Dhabi’s prosperity in line with Abu Dhabi Development Accelerators Programme ‘Ghadan 21.’

 

His Excellency noted that the initiative aims to support leading technology, innovation, and artificial intelligence (AI) projects to boost Abu Dhabi’s economic diversification and competitiveness policies. This is aligned with the emirate’s bid to become a global business and investment hub that attracts top entrepreneurs, talents, technology experts, researchers, and investors. 

 

Al Hajeri further explained that this latest initiative follows ADDED’s ongoing efforts to support innovative small and medium-sized enterprises (SMEs) as well as increase transparency and collaboration between the public and private sectors. 

 

His Excellency reiterated that being part of ‘Ghadan 21’ program, ‘Tech Licenses Package’ initiative aims to fulfill the vision of the Emirate’s leadership to boost the participation of the private sector in the economy and drive economic growth based on knowledge, innovation and diversification.

 

Al Hajeri added that ‘Tech Licenses’ has its key focus on meeting Ghadan 21 goals, reflecting the directives of Abu Dhabi government. It is designed to help make Abu Dhabi a global trendsetter in innovation and create an advanced technology and R&D ecosystem which serves the Emirate’s goal of providing jobs and attracting global talents and researchers in the field.

 

In ADDED’s other recently launched initiatives, ‘Tajer Abu Dhabi’ is enabling businesses to conduct over 1,000 economic activities without an office or business location for two years which decreases the cost of establishing a business by more than 80%. Meanwhile, ‘Dual Licenses’ gives entrepreneurs free zone businesses the freedom to expand their operations outside their free zones without a local partner as well as exempting the economic licenses from Abu Dhabi’s local fees. Under the ‘All in One Bundle’ initiative, six licensing procedures have been conveniently streamlined into one smooth process on the ADDED website.

 

All these initiatives aim to contribute to achieving Ghadan 21’s objectives of making the emirate a globally competitive and leading destination for investment and business, drive economic growth, achieve social development and improve the knowledge and innovation ecosystem while enhancing Abu Dhabi’s lifestyle. 

 

H.H. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, launched ‘Ghadan 21’ program in September 2018. ‘Ghadan 21’ aims to boost Abu Dhabi’s economy, make it more open, and link it to global economies through four key pillars of business and investment, society, knowledge and innovation, and liveability.