Abu Dhabi rolls out new digital tool to help investors make informed decisions

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Abu Dhabi rolls out new digital tool to help investors make informed decisions

24 Jun 2020

Abu Dhabi launched a digital tool to help investors gather updated data on licensed businesses in the emirate in order to make more informed decisions before starting their projects.

The Abu Dhabi Department of Economic Development (Added), on Tuesday, launched the new interactive "Investors' Compass" tool through its website.

The tool allows users to filter commercial and industrial businesses by type of activity, location, trade name, type of licence, contact details and other criteria on Added website and will help them identify the distribution of these establishments across the emirate.

This tool will help "any investor who is interested in Abu Dhabi and has a commercial project [which] needs more information on the economic sector",Mohammed Al Marar, director of commercial licensing department at Added, told reporters during a video conference. "This [the tool] will be a big boost, it will help us in giving investors information before they enter a sector."

The platform is aimed at helping new and existing investors as well as consumers to look for products in the emirate's commercial sector.

The Investors' Compass lists about 2,000 licensed commercial activities and provides a snapshot of the business landscape in the emirate, according to Added.

It also highlights the surrounding key sites, infrastructure and services to help investors choose the ideal location for their project.

The platform also has a database of 450 licensed industrial activities in the emirate, providing investors with more insights about Abu Dhabi's industrial sector. There are currently 1017 industrial licenses issued in Abu Dhabi, 299 in Al Ain, and 46 in Al Dhafra, according to a presentation by Added.

"It's a guideline to investors who want to invest in a certain sector... so they can build a business plan based on the facts," Mr Al Marar said.

The number of new commercial licences in Abu Dhabi has grown 68 per cent in 2019 while new industrial licenses grew 25 per cent year-on-year.

Data for the first half of 2020 is still unavailable.

Source: The National