ADCCI registers 8,751 companies

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has registered 8,751 new companies since the beginning of the year until yesterday and has renewed the memberships of 36,913 companies out of its total of 68,000 members, said the head of the chamber.

Salah Salem bin Omair Al Shamsi, President of the ADCCI, told Emirates Business yesterday that the number of new companies registered within this eight-month period is unprecedented. He noted that the increased rate of registration in the last eight months topped 15 per cent, compared to the whole of 2007.

Al Shamsi said the reason behind it was the decrease in membership fees, along with easier procedures of registration and renewal at the new centre for member service established by the ADCCI.

"The number of local and foreign companies is growing rapidly. We are attempting to register as many companies as we can, especially foreign ones, in line with the policy of the government to expand foreign investment."

In a press conference at the opening of the second phase of the member services centre, Al Shamsi said that the centre currently has offices of 14 government institutions. He added that the ADCCI will raise the number of institutions available at the centre to 25 by the end of 2008, including private institutions such as banks and insurance companies.

Al Shamsi said the ADCCI will soon announce social initiatives as well as a strategic plan for the next five years that aims to support the business sector.