Latest news with #AbuDhabiDepartmentofEconomicDevelopment


Time of India
04-08-2025
- Business
- Time of India
UAE: Abu Dhabi's non-oil foreign trade sees record 35% jump, reaching AED195.4 bn in H1 2025
Abu Dhabi's non-oil foreign trade grew 34.7% in H1 2025, up from AED145 billion during the same period in 2024/ Representative image Abu Dhabi's non-oil trade sector delivered a standout performance in the first half of 2025, driven by a robust surge in exports, steady growth in imports, and a rise in re-exports. The 34.7% year-on-year increase reflects the emirate's strong economic fundamentals, its strategic shift towards diversification, and an ongoing transformation into a global trade and logistics hub. — ADMediaOffice (@ADMediaOffice) Trade figures reflect strong economic momentum In the period from January to June 2025, Abu Dhabi's non-oil foreign trade reached AED195.4 billion ($53.2 billion), a significant increase from AED145 billion ($39.4 billion) during the same timeframe in 2024. This 34.7% growth was supported across all major trade categories: Exports rose 64%, reaching AED78.5 billion ($21.3 billion) compared to AED47.9 billion ($13 billion) in the first half of 2024. Imports climbed by 15% to AED80 billion ($21.8 billion), up from AED70 billion ($19 billion). Re-exports increased 35%, surpassing AED36 billion ($9.8 billion), compared to AED26.6 billion ($7.2 billion) during the corresponding period last year. The strong performance comes amid ongoing efforts to strengthen non-oil sectors, with trade becoming a core pillar of Abu Dhabi's broader economic expansion strategy. Strategic policies and infrastructure as growth catalysts Multiple structural and policy factors have underpinned the growth of Abu Dhabi's non-oil trade. The emirate continues to invest in infrastructure, logistics, and digital innovation to enhance trade capabilities. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), credited the growth to strategic economic planning and agile execution. 'Abu Dhabi's non-oil foreign trade steady performance in H1- 2025 reaffirms our position as a global economic powerhouse, bridging East and West, North and South. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 25 Simple Plant Hacks You'll Wish You'd Learned Sooner Learn More Undo Our consistent growth, amid the challenges in the international trade and global economy, reflects the strengths of our long-term economic planning, decisive policy execution, and our commitment to enabling fair and free exchange of goods, services, and innovations,' he said. Al Zaabi added that the emirate is prioritizing the streamlining of trade procedures, smart system integration, and service optimization to position Abu Dhabi as one of the world's most business-ready economies. These advancements are also reinforcing its role as a key node in global supply chains. Director-General of Abu Dhabi Customs, Rashed Lahej Al Mansoori, emphasized the role of innovation and partnerships in facilitating this growth. ' The growth in non-oil foreign trade during the first half of 2025 reflects the success of Abu Dhabi's economic strategies, and highlights the effectiveness of efforts made by Abu Dhabi Customs, in collaboration with strategic partners, to facilitate trade. These efforts are driven by the adoption of advanced systems, innovations, and digital technologies. " He noted. He emphasised the continued commitment to developing a proactive and agile customs ecosystem that supports global supply chains and enhances the emirate's competitiveness as a regional and international hub for trade and business. Al Mansoori concluded by reaffirming that Abu Dhabi Customs is committed to providing top-tier services and streamlined procedures that speed up customs processes and foster deeper collaboration with domestic and international partners, efforts that contribute to sustainable growth, support the evolving economy, and solidify the emirate's presence in global trade. Economic diversification and long-term vision The surge in non-oil trade is part of a broader transformation underway in Abu Dhabi's economy. In 2024, the emirate's GDP reached a historic AED1.2 trillion ($326.4 billion), with the non-oil sector contributing AED644.3 billion ($175.2 billion)—a 6.2% increase from the previous year. This represents 54.7% of the total GDP, marking the highest non-oil share to date. Abu Dhabi's strategy to reduce reliance on hydrocarbons includes targeted investments in manufacturing, tourism, aviation, and technology: In 2022, it launched an industrial strategy with AED10 billion ($2.72 billion) in funding across six programs, aiming to more than double manufacturing output to AED172 billion ($46.8 billion) by 2031. The tourism sector is projected to contribute 12% to GDP by 2030, up from 5% in 2023. Sectors like artificial intelligence and aviation have also seen fresh capital injections as part of Abu Dhabi's long-term economic blueprint. This economic vision is being realized through international partnerships as well. The UAE has signed 28 Comprehensive Economic Partnership Agreements (CEPAs) to broaden trade access. According to a report from The National, ten of these, signed with countries including India, Indonesia, Israel, and Turkey, are currently operational. Additional agreements with nations such as Australia, South Korea, Vietnam, Kenya, and others are pending implementation. Negotiations have concluded with the Philippines, Morocco, and Armenia, further expanding Abu Dhabi's access to global markets. Logistics, location, and competitive advantage Abu Dhabi's strategic location, world-class infrastructure, and investor-friendly reforms continue to position it as a global logistics hub. The development of modern airports, seaports, and transport networks has significantly improved the movement of goods and efficiency of supply chains. The effectiveness of these systems has been crucial in enabling the 2025 trade growth. Enhanced customs clearance services, coupled with digital integration and the use of smart technologies, are accelerating cross-border trade. Officials believe that this momentum is not short-lived. Abu Dhabi Customs reiterated its commitment to 'best-in-class' procedures that not only facilitate trade but also foster sustainable growth. This is aligned with the UAE's national objective of building a future-ready economy less dependent on oil.


Mid East Info
02-07-2025
- Business
- Mid East Info
Khalifa Fund for Enterprise Development's Abu Dhabi SME Champions Program facilitates 650+ deals worth AED672m in 2024
As part of the Abu Dhabi SME Champions Program, Khalifa Fund for Enterprise Development has witnessed a significant growth in the number of deals forged between SMEs and leading public and private institutions, achieving a total of 652 deals by 2024, with a total value of AED 672 million, across various key sectors such as IT, consultancy, advertising and event management. The initiative was launched in 2023 by the Abu Dhabi Department of Economic Development to increase the share of procurement opportunities allocated to SMEs by major private companies as well as government entities and institutions. As a result, the number of registered companies grew from 835 in 2023 to 2,235 in 2024, with the strategic partner count increasing to 20. Since its inception, the programme has been focused on supporting and encouraging SMEs to participate in supply chain opportunities, by providing them with a robust platform for business development. The initiative has created new pathways for these companies to play an active role in private sector projects, thus enhancing their contribution to GDP growth, diversifying economic resources and fostering innovation within Abu Dhabi, in line with the UAE's vision for a more sustainable and diverse economy. The programme features awareness initiatives to educate SMEs on the benefits of forging strategic alliances with both government and private sector entities. It also supports efforts to classify companies, develop their skills and strengthen collaboration and partnership pathways through relevant projects. Micro-enterprises now represent over half of the registered companies, with approximately 20 per cent of them being eligible for deals with leading institutions across both public and private sectors. H.E. Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development, said: 'The Abu Dhabi SME Champions Program acts as a bridge connecting SMEs in Abu Dhabi with leading institutions and government entities. This helps enhance the productivity and innovation within this vital business category, which is a cornerstone of the national economy. SMEs further play a pivotal role in catalysing Abu Dhabi's sustainable growth, aligning with the UAE's broader vision for economic development. 'Led by Khalifa Fund's ongoing efforts to promote entrepreneurship, the programme has garnered significant attention from Emirati entrepreneurs over the past two years, by paving the way for collaborations with leading institutions. The programme has conducted 13 bi-monthly training sessions to date, in collaboration with at least nine partners, focusing on skill development for SMEs to meet market demands. This is a remarkable milestone in building a sustainable and innovation-based economy, in line with the UAE's aspirations to become a leading knowledge-based and competitive economy.' The programme's key participants include the Abu Dhabi Department of Culture and Tourism, Department of Government Enablement – Abu Dhabi, Department of Finance, Abu Dhabi Investment Office, Family Development Foundation, Early Childhood Authority, AD Ports Group, Miral Group, E&, Aldar Properties, Etihad Airways, EMSTEEL Group, Emirates Development Bank, Agthia Group, ADGM, Mubadala, Masdar City, Industrial Capital Group (ICG), and United Copper Rods LLC (UCR), among others.


Web Release
02-07-2025
- Business
- Web Release
Khalifa Fund for Enterprise Development's Abu Dhabi SME Champions Program facilitates 650+ deals worth AED672m in 2024
As part of the Abu Dhabi SME Champions Program, Khalifa Fund for Enterprise Development has witnessed a significant growth in the number of deals forged between SMEs and leading public and private institutions, achieving a total of 652 deals by 2024, with a total value of AED 672 million, across various key sectors such as IT, consultancy, advertising and event management. The initiative was launched in 2023 by the Abu Dhabi Department of Economic Development to increase the share of procurement opportunities allocated to SMEs by major private companies as well as government entities and institutions. As a result, the number of registered companies grew from 835 in 2023 to 2,235 in 2024, with the strategic partner count increasing to 20. Since its inception, the programme has been focused on supporting and encouraging SMEs to participate in supply chain opportunities, by providing them with a robust platform for business development. The initiative has created new pathways for these companies to play an active role in private sector projects, thus enhancing their contribution to GDP growth, diversifying economic resources and fostering innovation within Abu Dhabi, in line with the UAE's vision for a more sustainable and diverse economy. The programme features awareness initiatives to educate SMEs on the benefits of forging strategic alliances with both government and private sector entities. It also supports efforts to classify companies, develop their skills and strengthen collaboration and partnership pathways through relevant projects. Micro-enterprises now represent over half of the registered companies, with approximately 20 per cent of them being eligible for deals with leading institutions across both public and private sectors. H.E. Mouza Al Nasri, CEO of Khalifa Fund for Enterprise Development, said: 'The Abu Dhabi SME Champions Program acts as a bridge connecting SMEs in Abu Dhabi with leading institutions and government entities. This helps enhance the productivity and innovation within this vital business category, which is a cornerstone of the national economy. SMEs further play a pivotal role in catalysing Abu Dhabi's sustainable growth, aligning with the UAE's broader vision for economic development. 'Led by Khalifa Fund's ongoing efforts to promote entrepreneurship, the programme has garnered significant attention from Emirati entrepreneurs over the past two years, by paving the way for collaborations with leading institutions. The programme has conducted 13 bi-monthly training sessions to date, in collaboration with at least nine partners, focusing on skill development for SMEs to meet market demands. This is a remarkable milestone in building a sustainable and innovation-based economy, in line with the UAE's aspirations to become a leading knowledge-based and competitive economy.' The programme's key participants include the Abu Dhabi Department of Culture and Tourism, Department of Government Enablement – Abu Dhabi, Department of Finance, Abu Dhabi Investment Office, Family Development Foundation, Early Childhood Authority, AD Ports Group, Miral Group, E&, Aldar Properties, Etihad Airways, EMSTEEL Group, Emirates Development Bank, Agthia Group, ADGM, Mubadala, Masdar City, Industrial Capital Group (ICG), and United Copper Rods LLC (UCR), among others. For any inquiries or further information, please contact: [email protected]


Al Etihad
02-07-2025
- Business
- Al Etihad
Abu Dhabi SME Champions Programme facilitates 650+ deals worth Dh672m in 2024
2 July 2025 10:24 ABU DHABI (ALETIHAD)As part of the Abu Dhabi SME Champions Programme, Khalifa Fund for Enterprise Development has witnessed a significant growth in the number of deals forged between SMEs and leading public and private institutions, achieving more than 650 deals by deals totalled Dh672 million in value across various key sectors such as IT, consultancy, advertising and event initiative was launched in 2023 by the Abu Dhabi Department of Economic Development to increase the share of procurement opportunities allocated to SMEs by major private companies, as well as by government entities and a result, the number of registered companies grew from 835 in 2023 to 2,235 in 2024, with the strategic partner count increasing to its inception, the programme has been focused on supporting and encouraging SMEs to participate in supply chain opportunities, by providing them with a robust platform for business development. The initiative has created new pathways for these companies to play an active role in private sector projects, thus enhancing their contribution to GDP growth, diversifying economic resources, and fostering innovation within Abu Dhabi, in line with the UAE's vision for a more sustainable and diverse programme features awareness initiatives to educate SMEs on the benefits of forging strategic alliances with both government and private sector entities. It also supports efforts to classify companies, develop their skills, and strengthen collaboration and partnership pathways through relevant now represent over half of the registered companies, with approximately 20 per cent of them being eligible for deals with leading institutions across both public and private Al Nasri, Acting CEO of Khalifa Fund for Enterprise Development, said: 'The Abu Dhabi SME Champions Program acts as a bridge connecting SMEs in Abu Dhabi with leading institutions and government entities. This helps enhance the productivity and innovation within this vital business category, which is a cornerstone of the national economy. SMEs further play a pivotal role in catalysing Abu Dhabi's sustainable growth, aligning with the UAE's broader vision for economic development.'Led by Khalifa Fund's ongoing efforts to promote entrepreneurship, the programme has garnered significant attention from Emirati entrepreneurs over the past two years, by paving the way for collaborations with leading institutions. The programme has conducted 13 bi-monthly training sessions to date, in collaboration with at least nine partners, focusing on skill development for SMEs to meet market demands. This is a remarkable milestone in building a sustainable and innovation-based economy, in line with the UAE's aspirations to become a leading knowledge-based and competitive economy." The programme's key participants include the Abu Dhabi Department of Culture and Tourism, Department of Finance, Abu Dhabi Investment Office, Family Development Foundation, Early Childhood Authority, Abu Dhabi Projects and infrastructure, Department of Government Enablement – Abu Dhabi, Ministry of industry and Advanced Technology, Etihad Airways, EMSTEEL Group, Aldar Properties, E&, Industrial Capital Group (ICG), AD Ports Group, Miral Group, Emirates Development Bank, Agthia Group, ADGM, Mubadala, Masdar City, Aldhahra, MODON and Siemens, among others. Source: Aletihad - Abu Dhabi


Time Business News
25-06-2025
- Business
- Time Business News
Business Setup in Abu-Dhabi - Basic to Advanced Guide
Abu Dhabi, the capital of the United Arab Emirates (UAE), offers a dynamic environment for entrepreneurs, investors, and multinational companies to set up their business. With its strong infrastructure, stable economy, and investor-friendly policies, Abu Dhabi is an ideal destination for business setup in the Middle East. provides everything you need to know about business setup in Abu Dhabi, including types of business structures, legal requirements, cost breakdown, and steps involved. Why Choose Abu Dhabi for Business Setup? 100% Foreign Ownership – Available in most sectors under the new UAE Commercial Companies Law. Tax Advantages – No personal income tax, and corporate tax exemptions for certain sectors and free zones. Strategic Location – Access to the GCC, Africa, Europe, and Asia markets. Political & Economic Stability – Safe, secure, and well-regulated business environment. Government Support – Initiatives like TAMM, ADDED, and Hub71 foster innovation and streamline registration processes. Business Structures Available in Abu Dhabi You can choose from several legal forms depending on your business activity and ownership preferences: 1. Mainland Company Can operate across the UAE and globally. 100% foreign ownership allowed (in most sectors). Registered with Abu Dhabi Department of Economic Development (ADDED). 2. Free Zone Company Ideal for export/import businesses and tech startups. 100% ownership with customs benefits. Operate within a specific free zone. Popular Free Zones: Abu Dhabi Global Market (ADGM) Khalifa Industrial Zone (KIZAD) Masdar City Free Zone Twofour54 (media sector) 3. Offshore Company No physical presence required in UAE. Primarily for holding companies, international trading, and asset protection. Step-by-Step Guide to Setting up a Business in Abu Dhabi Step 1: Choose the Business Activity Select from over 2,000 permitted activities listed by ADDED. This determines the license type: Commercial, Industrial, or Professional. Step 2: Select Legal Structure Sole Proprietorship Limited Liability Company (LLC) Civil Company Branch Office Free Zone Company Step 3: Register Trade Name Choose a unique business name via the TAMM portal . . Comply with UAE naming guidelines. Step 4: Apply for Initial Approval From ADDED (mainland) or relevant Free Zone Authority. Step 5: Prepare Legal Documents Memorandum of Association (MoA) Lease agreement (Ejari or Tawtheeq) Shareholder agreements (if needed) Step 6: Get Office Space Required for all licenses. Choose flexi-desk, co-working, or physical office. Step 7: Obtain Business License Pay the fees and receive the trade license. Valid for 1 year, renewable. Step 8: Visa & Bank Account Apply for investor and employee visas. Open a UAE corporate bank account. Cost of Business Setup in Abu Dhabi Costs vary depending on the business type, location (mainland vs. free zone), and office requirements: Item Approximate Cost (AED) Trade Name Registration 750 – 1,000 Initial Approval 1,000 – 2,000 License Fee 10,000 – 25,000 Office Rent 5,000 – 20,000+ Visa (Investor/Partner) 3,500 – 6,000 Total Estimated Setup Cost 20,000 – 50,000+ Note: Free zones may offer packages starting from AED 12,000 Starting a Business in Free Zone Fujairah Abu Dhabi is a strategic decision that offers long-term benefits. With full foreign ownership rights, tax-friendly laws, and world-class infrastructure, the emirate is one of the most attractive investment hubs in the region TIME BUSINESS NEWS