ADDED has established and imposed the ADRA to improve and formalize the business sector in Abu Dhabi emirate. The launch was scheduled after the resolution of the Abu Dhabi Executive Council to create ADRA which will regulate business registration and business compliance in the emirate and non-financial economic free zones in the emirate.
Thus, one of the important areas of ADRA’s activity is compliance with the legislation, including AML and measures against suspicious operations. The authority will also combined a single catalogue of economic entities, which will facilitate the process of licensing and help to exercise better control over commercial registers.
ADRA wants to optimise business processes, attract investments, and support the establishment of an enabling environment for businesses and companies through using sophisticated digital solutions. New licence categories will give scope for talents, investors, and businesses to take opportunity of the diversified economy of Abu Dhabi.
Ahmed Jasim Al Zaabi the Chairman of ADDED stressed that the establishment of ADRA will be crucial for increasing the tempo of economic development in the emirate. There is, “ADRA reflects His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and the ruler of Abu Dhabi, direction as the emirate seeks to cement its status as a hub for international business while providing companies the tools to grow locally and globally. Through this, ADRA will ensure that they meet set international standards thus enabling them have better data disclosure leading to sound decision making.
The authority is expected to undertake a massive responsibility of attracting investment to sectors of importance in the Sheikhdom, thus supporting Abu Dhabi’s long-term economic plan and solidifying the Falcon Economy of Abu Dhabi. ADRA’s actions and plans support Abu Dhabi’s vision on how to attract talents and knowledge from across the world, investors and, in general make the emirate a hub for talent and capital, thus strengthening its position as one of the leading global economic centres.
