2,000 new business licenses issued in Abu Dhabi

Top Stories

»	Indian markets trade higher despite West Asia tensions
»	Sensex, Nifty open 1 pc lower amid West Asia tensions, weak global cues
»	India clocks robust 7.7 pc GDP growth in 2025-26, Q4 growth at 7.8 pc
»	RBI keeps repo rate unchanged at 5.25 pc, maintains ‘Neutral’ stance
»	Crude oil prices fall over 1 pc as ceasefire hopes ease West Asia concerns

IANS/WAM | 21 May, 2012
Abu Dhabi's Department of Economic Development has issued 2,161 licenses for new commercial ventures in the first quarter of this year.

Abu Dhabi is the wealthiest emirate of the UAE in terms of Gross Domestic Product (GDP) and per capita income.

More than USD 1 trillion is invested worldwide in this city alone. In 2010, the GDP per capita also reached USD 49,600, which ranks ninth in the world after Qatar, Liechtenstein and Luxembourg and many others.

This has brought the total number of commercial licenses registered in the emirate to 105,953.

The total number of business licenses renewed during the first quarter was 17,866.

Abu Dhabi is also planning many future projects sharing with the Cooperation Council for the Arab States of the Gulf (GCC) and taking 29 percent of all the GCC future plannings.

The United Arab Emirates is a fast-growing economy: in 2006 the per capita income grew by 9 percent, providing a GDP per capita of USD 49,700 and ranking third in the world at purchasing power parity.

Abu Dhabi's sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA), currently estimated at USD 875 billion, is the world's wealthiest sovereign fund in terms of total asset value.