The Abu Dhabi Department of Economic Development (ADDED) in partnership with the Abu Dhabi Digital Authority (ADDA) announced the soft launch of the ‘Investor Journey’ on TAMM which will act as an all-in-one business creation platform that supports new business ideation, execution and support in identifying new investment opportunities.
The launch came in the context of the Abu Dhabi government’s participation in the 41st session of “GITEX Technology Week 2021” which concluded last Thursday. The event was attended by high-profile officials including His Excellency Sheikh Abdullah bin Mohammed Al Hamed, Chairman of Department of Health – Abu Dhabi, His Excellency Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, His Excellency Ali Rashid Al Ketbi, Chairman of Government Support Department-Abu Dhabi. The Investor Journey is the result of an ADDED-led Public-Private-Partnership (PPP) between four government entities of Abu Dhabi, the federal government, and the private sector, led by Abu Dhabi Department of Economic Development and Abu Dhabi Digital Authority (ADDA), also the partnership between the investor journey and, Mashreq Bank as well as Property Finder are perfect examples of the close collaboration between the private sector and the public sector.
His Excellency Mohamed Ali Al Shorafa, Chairman of ADDED, stated that the launch of the Investor Journey is the kickoff of a strategic transitional project that targets the transformation of economic activities licensing services into fully integrated digital services through the complete digitization of processes.
His Excellency Rashed Abdulkarim Al Blooshi, the Undersecretary of Department of Economic Development noted that the Digital Investor Journey features many investor-friendly tools like the ‘License Finder’ tool, which guides the investors through a smart questionnaire helping them to identify the suitable legal form and license type. If an investor only wants information, they can also use the ‘Simulate Your Business Setup’ tool. The Investor Journey allows investors to apply for a trade name and a licence online within 6 minutes, in addition to identifying the physical location of the business through uploading an authenticated contract. As this helps process the contracts such as the Memorandum of Association or Service Agent Contracts for all applicable types of licences as well as signing them online.
Sameh Al Qubaisi, the Executive Director of the ADDED’s Executive Affairs Office, noted that among the advantages of the Digital Investor Journey, the investor can open a bank account through Mashreq Bank by providing all licensing data as well as personal data from the investor in advance. He also emphasized that ADDED will work to enhance the portal by adding more government services such as obtaining labour quota and issuing work permits through collaboration with local and federal entities. Furthermore, the investor journey is looking forward to partnering with more government entities, banks, financial institutes and property listing companies in the future. Our platform will give a great chance to the investors to share their thoughts and feedback in order to continuously maintain and enhance our services. The investor journey will focus on meeting the needs of investors at home and abroad.