Abu Dhabi Executive Council (ADEC) has launched a new set of initiatives under the ‘Ghadan 21’ Accelerator Programme on Monday (March 16), including a series of stimulus packages to boost small and medium enterprises.
The Department of Culture and Tourism – Abu Dhabi’s (DCT Abu Dhabi) chairman, HE Mohamed Khalifa Al Mubarak commended the development by saying: “This stimulus package will help bolster economic growth and facilitate a rapid recovery from the effects of the global health crisis, thus strengthening the tourism sector, which is a major constituent of the diverse economy that Abu Dhabi is working towards building in preparation for the next 50 years.”
The new initiatives contribute to supporting DCT Abu Dhabi’s efforts to boost growth across the tourism sector, to enhance cultural, leisure, and business tourism and to diversify income sources and provide more job opportunities, in line with both the UAE Vision 2021 and its vision to promote Abu Dhabi as an international hub.
“These exemptions serve to provide start-ups with easier access to finance, enabling them to expand their business and enhance their business continuity, which will facilitate their success and growth, especially as they play a key role in driving the economy. We are certain that these initiatives will help enhance the capital’s competitiveness and accelerate its economic, social and developmental growth,” he concluded.