Abu Dhabi unveiled four fresh initiatives and strategies on Wednesday, marking the first day of Abu Dhabi Business Week (ADBW). Among these, the launch of the Abu Dhabi Registration Authority (Adra) stands out, aiming to simplify and expedite business setup in the UAE capital. Additionally, a new industrial zone dedicated to technological solutions and localized production was introduced.
Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, spearheaded the launch of Adra, an entity under the Abu Dhabi Department of Economic Development (ADDED). Adra is designed to streamline business setup and regulatory compliance, serving as a single point for registration and reporting across the Emirate’s mainland and free zones. This initiative centralizes and streamlines business registration processes, ensuring adherence to both UAE and international regulations.
The inaugural ADBW event is taking place at the Abu Dhabi National Exhibition Centre (Adnec), where high-ranking officials from both the public and private sectors are addressing various topics. Khalifa Fund for Enterprise Development (KFED) and MZN Venture Studios also unveiled new strategies. MZN Venture Studios is the newly established industrial zone focusing on cutting-edge technological solutions and localized production. It aims to attract foreign direct investment through incentive packages and provide essential infrastructure and shared services to support the growth of key industries.
The Khalifa Fund, a government-backed non-profit economic development fund supporting small-to-medium enterprises (SMEs), introduced a new strategy to ensure continued support, business-enhancing measures, and favorable ecosystems for SMEs to flourish across the Emirate. Additionally, the Abu Dhabi Family Business Council was launched to support family-owned businesses and their future leaders. The Council will assist these businesses in identifying priorities and challenges, offering innovative solutions and investment support.
Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Chamber, reflected on Abu Dhabi’s journey to becoming an economic powerhouse and the richest city for sovereign wealth. The Abu Dhabi Chamber of Commerce and Industry (ADCCI) also launched its new strategy, positioning the chamber as a premier business accelerator for the private sector in Abu Dhabi. This strategy aims to strengthen the Emirate’s business ecosystem by connecting businesses with local and international markets.
Al Zaabi emphasized that the Abu Dhabi Chamber’s new strategic roadmap is a transformative initiative “designed for the private sector, by the private sector, to grow further and farther.” He noted that this roadmap was the result of extensive discussions between public and private sector stakeholders, focusing on enhancing business ease, accelerating growth in key sectors, and empowering SMEs and family businesses to thrive in regional and global markets.
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