ABU DHABI: A total of 79,224 business licences were renewed in 2018 in Abu Dhabi in yet a new testament to the investment-conducive environment boasted by the emirate, according to figures released by the Statistics Centre — Abu Dhabi.

According to SCAD’s data, the number of new business licences registered last year amounted to11,249 while 3,867 were cancelled.

The Centre attributed the growing business momentum witnessed by Abu Dhabi in particular and the UAE in general to the streamlined transformational drive ongoing all primary sectors to provide a business-friendly environment and the accelerated pace of economic diversification to wean the economy off oil dependence and ensure the establishment of a knowledge-based economy.