Groundbreaking Initiatives to Boost Abu Dhabi's Growing Falcon Economy

Abu Dhabi, the world's richest city boasting a sovereign wealth fund of $1.7 trillion, is setting the stage for substantial economic transformation with bold new initiatives aimed at empowering its private sector and elevating the burgeoning Falcon Economy. These measures promise to create a favorable business landscape that enables local entrepreneurs to seize opportunities and realize their full potential.

According to His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED), the emirate's remarkable economic development is propelled by a commitment to building a robust, resilient, and diversified economy. "We remain steadfast in our intent to create proactive frameworks that address both current and future challenges, ensuring a better tomorrow for future generations," he stated. This vision is not just abstract; it is also rooted in actionable steps aimed at fostering an ecosystem conducive to business innovation and growth.

Enhancing Regulatory Frameworks

One key initiative is the establishment of the Abu Dhabi Registration and Licensing Authority (ADRA), which functions under the umbrella of ADDED. ADRA aims to streamline the regulatory process by serving as a centralized registry for all businesses operating both onshore and in free zones within Abu Dhabi. By ensuring compliance with UAE laws and international regulations, ADRA enhances consumer and trade protection, thus simplifying business operations.

A Forward-Looking Roadmap

Accompanying the establishment of ADRA is a new roadmap introduced by the Abu Dhabi Chamber of Commerce and Industry (ADCCI). This comprehensive plan, spanning the years 2025 to 2028, is designed to cultivate a thriving, flexible, and diversified business environment in Abu Dhabi. It emphasizes the critical importance of fostering partnerships, connecting businesses to global markets, improving commercial opportunities, advocating for policies that support business growth, and empowering entrepreneurs and talent.

The ADCCI's plan is built on five foundational pillars: advocacy, market intelligence, ecosystem development, innovation, and market expansion. Each of these areas is pivotal for promoting sustainability and resilience in the emirate’s economic landscape. Additionally, the establishment of the Abu Dhabi Family Business Council aims to enhance the sustainability and prosperity of family-owned businesses, ensuring their continuity through generations.

Supporting Entrepreneurship

A significant step in supporting small and medium enterprises (SMEs) is the revamped Khalifa Fund for Enterprise Development. This fund aims to provide tailored resources and assistance within a friendly ecosystem that enables SMEs to thrive. At the core of this initiative is the MZN Hub—named after the Arabic word for