The Abu Dhabi Government received more than 3,000 inquiries last year from businesses about commercial licences.
The emirate's Department of Economic Development hopes to raise the number of inquiries this year after the official launch this month of a fast-track hub, the Abu Dhabi Business Centre, to cut through red tape.
The centre has offices staffed by representatives of eight key government institutions and will be linked directly to a further 11 by the end of the year.
"The service aims to achieve coherence and complementariness between trade licensing service data and the relevant authorities, and to ensure the quality and accuracy of the information; thereby reducing document manipulation, raising the efficiency and level of government coordination, easing licensing procedures in the emirate and achieving the objectives of Abu Dhabi e-Government strategy," said Mohammed Rashid Al Rumaithi, the acting executive director of the commercial affairs sector at the economic department.
The department hoped the centre would help to generate more than the 3,016 commercial licence inquiries received last year, he said.
Officials believe the new centre, in the same building as the department and next door to the Municipality of Abu Dhabi City, will attract investment and encourage more businesses to start up in the capital.
The World Bank's Ease of Doing Business report ranked the UAE 26 out of 185 economies this year, an improvement from 29 in 2012.
The World Economic Forum's Global Competitiveness Report, published in September, ranked the UAE 24th out of 144 countries, an improvement of three places on the previous year.
tarnold@thenational.ae
Ticket prices
- Golden circle - Dh995
- Floor Standing - Dh495
- Lower Bowl Platinum - Dh95
- Lower Bowl premium - Dh795
- Lower Bowl Plus - Dh695
- Lower Bowl Standard- Dh595
- Upper Bowl Premium - Dh395
- Upper Bowl standard - Dh295
Why it pays to compare
A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.
Route 1: bank transfer
The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.
Total cost: Dh567.25 - around 2.9 per cent of the total amount
Total received: €4,670.30
Route 2: online platform
The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.
Total cost: Dh74.10, around 0.4 per cent of the transaction
Total received: €4,756
The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.
Killing of Qassem Suleimani
Farasan Boat: 128km Away from Anchorage
Director: Mowaffaq Alobaid
Stars: Abdulaziz Almadhi, Mohammed Al Akkasi, Ali Al Suhaibani
Rating: 4/5
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
Manchester City 4
Otamendi (52) Sterling (59) Stones (67) Brahim Diaz (81)
Real Madrid 1
Oscar (90)
Day 3 stumps
New Zealand 153 & 249
Pakistan 227 & 37-0 (target 176)
Pakistan require another 139 runs with 10 wickets remaining
Company%20Profile
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded