Abu Dhabi Department of Economic Development launches the ‘Investor Journey’
The Abu Dhabi Department of Economic Development (ADDED), in partnership with the Department of Government Support, represented by Abu Dhabi Digital Authority (ADDA), announced today that it has activated the brand new ‘Investor Journey’, part of Abu Dhabi Government Services Ecosystem ‘TAMM'. The highly-regarded journey is specifically designed to address the needs of current and prospective businesses, entrepreneurs, and investors by reducing costs, offering seamless integration and an advanced service ecosystem to facilitate new business ideation and set-up.
Following Abu Dhabi’s lowering of set-up and renewal fees by 93% to just AED1,000, and the cancellation of 71% of business set-up requirements in 2021, in cooperation with 27 government entities, the ‘Investor Journey’ brings a fully digitalised experience, guiding investors through a range of services, with minimal physical touchpoints. Furthermore, the transactions and approval procedures of various government entities have been unified and embedded into this journey.
His Excellency Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADDED, stated: “Investor Journey is another key milestone demonstrating our clear commitment to investors. Our active cooperation with partners in the public and specifically the private sectors for the benefit of business owners is testament to Abu Dhabi's determination towards reducing both direct and indirect costs while maintaining price compliance. We have key business enablers in place such Abu Dhabi Residents Office, Abu Dhabi Investment Office and the Investor Journey program in partnership with the Abu Dhabi Government Services Ecosystem TAMM to empower and safeguard one of the economy’s key pillars, the private sector.”
His Excellency further explains, “Our commitment to controlling costs, reducing requirements, and enhancing government processes will always be at the forefront of our agenda. ADDED has already rolled-out critical projects including phase 2 of the investor Journey which will integrate more services and business setup tools and features. Moreover, ADDED continues to undertake comprehensive reviews of direct and indirect costs, including regulatory and administrative burdens on the private sector in cooperation with both local and federal entities.”
Discussing the importance of the ‘Investor Journey’ in the digital transformation of Abu Dhabi, His Excellency Ali Rashid Al Ketbi, Chairman of the Department of Government Support - Abu Dhabi, explains: “One of the main priorities for the government support sector is to enable and support an integrated and proactive digital government, facilitated through advanced and innovative solutions. This would enable a future ready government as per the vision and aspirations of the wise leadership in regards to achieving government excellence through adopting innovation and utilizing the latest digital solutions.”
He added that innovation is the winning formula in today’s highly competitive global business environment and implementing artificial intelligence in key services will empower investors with simplified systems and processes. We are confident that the “Investor Journey” will deliver a secure and user-friendly experience to enable all stakeholders to benefit from Abu Dhabi’s investments in leading technologies.”
Among the many features empowering investors and business owners, the journey offers an informative ‘Simulator’ allowing them to seek clarity and instructions, ‘Licence Finder’ to help identify suitable legal forms and licence types, followed by an easy application process for obtaining trade names and licences. After which, investors can identify locations for their businesses via an interactive map by ‘Property Finder’, obtain digital contracts, Certificates of Conformity (CoC) by Abu Dhabi Civil Defence Authority, and facilitates bank account applications. As part of the launch phase, a partnership with Mashreq Bank was initiated, with further engagements to be announced.
The Investor Journey can be accessed through the following links: