Business Industries in Abu Dhabi

The United Arab Emirates (UAE) has become an epicentre globally for emerging entrepreneurs. Benefits such as its thriving economy, investor-friendly processes, and tax-regime make UAE an attractive destination to start your business. Over the past decade, Abu Dhabi has become the nexus of business development attracting foreign investment and entrepreneurs worldwide to set up their businesses.

In this article, we explore some of the industries in Abu Dhabi and its prospects before you consider setting up your business in the Emirate.

Why consider Abu Dhabi?

There are various compelling reasons to consider for setting up a business in abu dhabi. Let us look at a few of them:

  1. Favourable Location

Abu Dhabi is located in the heart of the Middle East making it a gateway to the international markets. It is also near the major markets in the Gulf Cooperation Council (GCC), making it an efficient logistic hub.

  1. Strong Economy

With initiatives like Abu Dhabi Vision 2030 and constant support from the government, Abu Dhabi boasts a strong and diversified economy. It offers stability for various industries in Abu Dhabi and safeguards it from the risk of market fluctuations.

  1. Friendly Business Environment

Abu Dhabi encourages innovation and investment by implementing initiatives such as establishing free zones. These zones, such as the Khalifa Industrial Zone (KIZAD) offer full ownership, tax benefits, streamlined business set-up process, and top-notch infrastructure.

  1. Financial Policies

You can enjoy financial liberty due to numerous incentives and support provided by the government to promote business growth. These include subsidies, grants, development funding, and connectivity to investors helping foster innovation and facilitating business growth.

Booming Industries in Abu Dhabi

There are multiple opportunities and a wide range of industries for you to choose from before setting up business operations in the Emirate. Choosing the right industry is important as it must align with your business goals and objectives.

Let us look at a few industries which have potential and can be considered for business setup in Abu Dhabi:

  1. Technology

We are in the era of digitalization and the UAE government is promoting the development of technology-based businesses. The emerging technologies you could consider for your business are artificial intelligence/machine learning, blockchain technology, fintech, and e-commerce platforms. The growing tech-savvy population and government support make the technology industry in Abu Dhabi a good option for business endeavours.

  1. Travel and Tourism

Abu Dhabi is known for its lavish lifestyle, rich cultural heritage, and luxury hospitality making it a global attraction for tourists and investors. The government has made a lot of infrastructural enhancements and changes in public transport to promote tourism. There has been significant growth in travel and tourism in Abu Dhabi due to the strategic efforts made by the authorities unleashing the potential for further growth and making it an attractive sector.

  1. Clean Energy

Efforts made towards sustainable development have become one of the most prevalent topics globally. UAE takes this issue very seriously and is transitioning towards renewable energy and sustainability by drafting the UAE's Energy Strategy 2050. The movement towards sustainability opens up numerous opportunities for businesses such as clean energy production, green solutions for companies, and building energy-efficient technologies.

  1. Construction and Real Estate

Abu Dhabi is known for its state-of-the-art projects like the Jubail Island project, its skyscrapers, and top-class infrastructure, making it a global attraction. Furthermore, with events like the World Expo and increased tourism, there is an increase in both commercial and residential projects like hotels, shopping centres, and housing complexes making the construction and real estate industry in Abu Dhabi a lucrative option.

  1. Healthcare

There has been significant development in Abu Dhabi’s healthcare sector due to significant government investment. The sector has established several prestigious partnerships globally to advance its practices by adopting top technologies. Investment opportunities continue to emerge due to the robust growth potential this sector holds given the healthcare testing capacity and world-class healthcare infrastructure.

Choose Commitbiz!

We at Commitbiz solve your business problems and help ease your business incorporation process. If you are still struggling to decide among the different industries in Abu Dhabi, we can provide you with the clarity you need. For more details on the services offered by Commitbiz, feel free to contact us. We would be delighted to solve your problems and help achieve your business goals.

FAQs

Are there any entities in Abu Dhabi that provide direct support for businesses?

A few entities like the Khalifa Fund for Enterprise Development and the Abu Dhabi Investment Office (ADIO) provide startups and entrepreneurs with financial support, business consultancy services, and mentorship programs.

What is the fastest-growing industry in Abu Dhabi?

There are many fast-growing industries such as tourism, healthcare and technology with promising CAGR. However, the renewable energy sector has made significant strides in terms of recent development.

What are the specific tax benefits offered by the free zones in Abu Dhabi?

The tax benefits offered vary depending on the Free zone opted by the entrepreneur. However, a few common benefits are no corporate taxes and tax holidays on VAT depending on the freezone chosen.

What are some of the notable international companies in Abu Dhabi?

FedX, KPMG, Accenture, and Siemens are a few of the well-known companies in Abu Dhabi.