Business & Money | Monday 30 March, 2020 3:44 am |

Via a videoconference, H.E. Rashed Abdul Karim Al Balooshi, Undersecretary of Abu Dhabi Department of Economic Development (ADDED), recently held a virtual meeting with members of the Word Bank to discuss the evaluation processes for Abu Dhabi in terms of the emirate’s ease of doing business in several strategic sectors. The evaluation will be conducted in coordination with the Competitiveness Office of Abu Dhabi (COAD), an affiliated entity of ADDED.          

 

The World Bank report will examine Abu Dhabi’s competitiveness based on six local indicators including starting a business, dealing with construction permits, registering property, enforcing contracts, getting electricity and trading across borders. The report will be prepared in cooperation with all relevant authorities in the emirate.

 

During the meeting, ADDED’s Undersecretary reiterated the Department’s commitment to further promote Abu Dhabi’s position as a regional hub for business and finance and its efforts to enhance the emirate’s competitiveness amid the current extraordinary circumstances taking place in the world. Al Balooshi further mentioned that ADDED provides numerous economic incentives to ensure business sustainability and foster investments.        

 

H.E. also reviewed the World Bank’s operational mechanism to collaborate with relevant local government entities in relation to the preparations of the 2021 edition of the report, which aims to present the business processes in the emirate to investors and decision makers. The World Bank is currently in the process of developing the latest edition alongside other regional reports, which highlight the strengths as well as opportunities for improvement of doing business in over 510 cities across 75 countries.