Wed, 30 Nov 2022

ADDED digitally links freezones in Abu Dhabi

WAM
25 Nov 2022, 01:05 GMT+10

ABU DHABI, 24th November, 2022 (WAM) -- As part of its ongoing initiatives and efforts to improve business environment and develop a single platform for economic licences, the Abu Dhabi Department of Economic Development (ADDED), has completed the e-link project with four freezones including KEZAD Group, which consist of 12 economic zones, Abu Dhabi Airports Free Zone, the Media free Zone- Abu Dhabi (twofour54), and Masdar City Free Zone, to integrate and create a unified database of economic licenses in the Emirate of Abu Dhabi.

The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE and enhance the country status in following highest level of international standards of transparency and governance.

In addition, the e-link project aims to complete integration with Ministry of Economy's database and the 'National Economic Register' to provide accurate, comprehensive, and instant data on the existing economic licenses in the United Arab Emirates.

Mohamed Ali Al Shorafa, Chairman of ADDED and the Free Zones Council, which supervises freezones and include operators' representatives in its membership, said, "Abu Dhabi has established itself among the leading global centres for innovation and competitiveness. The emirate has nurtured a supportive business environment, unparalleled connectivity, and infrastructure, presenting investors and entrepreneurs ample opportunities to grow and thrive. Our digital transformation journey enables and supports an integrated and proactive digital government, facilitated through advanced and innovative solutions. Completing the e-link project and unifying commercial register will spur freezones' contribution to sustainable economic development and further enhance the ecosystem to attract investments."

Rashed Abdulkarim Al Blooshi, Under-Secretary of ADDED, said, "The e-link with economic freezones in the emirate will further enhance our integrated, business-supportive ecosystem to encourage investors and entrepreneurs to benefit from growth opportunities in Abu Dhabi. The project also reflects ADDED interest to launch and implement initiatives to ensure ease of setting up and doing business, simplifying economic licenses procedures, and providing a unified database to enhance business sector, investors, and economic establishments' confidence."

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