DED in Abu Dhabi Reviews The World Bank Report: ’Doing Business in Abu Dhabi’

The Economic Development Department in Abu Dhabi (DED) held a scientific seminar in the Intercontinental Hotel Abu Dhabi in the presence of HE Mohammad Omar Abdullah, Undersecretary of DED.

The seminar reviewed the findings of the report: "Doing Business in Abu Dhabi" which was developed by the World Bank and the International Finance Corporation (IFC).

The report examines the ease of doing business in Abu Dhabi 2009 and the proposed reforms to develop and improve business environment in the Emirate as required by the public policy agenda and Abu Dhabi Economic Vision 2030 aiming at "building an open and efficient business environment that can integrate with the global economy." The seminar was initiated with the opening address by Mr. Hamad Salem Lekhrebani Al Nuaimi, the Executive Director of DED’s Commercial Affairs Sector, in which he commended "the unlimited support provided by the Executive Council of the Emirate of Abu Dhabi to the business community, and the directives of the wise leadership to make every possible effort to meet the needs of investors and those who wish to do business in the emirate. Hence, the emirate of Abu Dhabi is ranked fourth at the GCC level in terms of the general index of the ease of doing business." Mr. Al Nuaimi announced that many tangible steps could be announced in the near future, based on the recommendations of the report and the development plan of DED’s Commercial Affairs Sector.

Then, Mr. Ahmad Abu Ghida, the Deputy Director of DED’s Economic Planning, addressed the topic of economic competitiveness in general and the competitive business environment in particular, stressing the keen interest of the Emirate of Abu Dhabi in promoting its economic competitiveness starting with the global best practices, and in line with the general investment approach of the Government.

Mr. Abu Ghida said that the Government of Abu Dhabi’s quest to be among the best five governments in the world requires enhancement of competitiveness to be in line with this ambitious approach.

Mr. Rashid Al Zaabi, the Director of studies, then reviewed the results of the World Bank’s Report on the ease of doing business in the Emirate of Abu Dhabi, and said that this report is the outcome of the joint efforts between DED, the World Bank and IFC. The World Bank’s team has been collecting data in collaboration with DED and a number of relevant government entities related to the index’s ten areas of reform and also in collaboration with Abu Dhabi Chamber of Commerce and Industry and a number of private sector companies.

The Report is the outcome product of measuring a set of regulations representing ten stages of a standard business life to form the general index of the overall "ease of doing business". It is considered to be one of the most important international reports in determining the nature of business climate.

The report pointed out that the implementation of the recommendations contained therein will facilitate the emirate’s business activity and contribute towards the enhancement of the efforts to highlight its position on the global investment map.

An extensive discussion took place during the seminar with local and regional experts on the various aspects of the report. Then, the event was concluded with a final address delivered by HE Mohammad Omar Abdullah, the Undersecretary, in which he said that DED has sought assistance from the World Bank experts to produce this scientific report in order to determine the nature of the emirate’s business environment and to support the development and reform process with tangible and measurable steps.

"There are a set of encouraging facts and applicable proposals aiming to develop the business environment. DED will disseminate a summary of the report at a later date after discussing its results with partners and relevant institutions." he added.

It is worth mentioning that the "Doing Business Report" is one of the most important international reports in determining the nature of business climate. It enjoys the confidence and appreciation of various actors both locally and internationally and plays a significant role in influencing the different business views. It is one of the startups the investor considers when taking an investment decision and determining the investment destination. The report provides as well clear and frank readings to the governments and concerned authorities about the nature of business climate and economies.
 

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