Abu Dhabi: The Abu Dhabi Executive Council has approved a resolution to exempt all new economic licences issued in the emirate from all local fees for two years, effective from the date of issue.

The council has also approved another resolution exempting and reducing the fees of 98 basic services charged by the Abu Dhabi municipalities on the private sector.

Coming into force by December 1, the two resolutions are part of the Abu Dhabi Government Accelerators Programme, Ghadan 21, which aims to enhance the business, investment, societal, knowledge innovation, and lifestyle competitiveness of Abu Dhabi.

The first resolution covers all commercial activities in Abu Dhabi and the emirate’s free zones, a statement from WAM said on Wednesday.

The second resolution cancels the fees of 75 basic services provided by Abu Dhabi municipalities and reduces the fees of 23 services by 10-50 per cent.

Saif Mohammad Al Hajeri, chairman of the Department of Economic Development in Abu Dhabi, welcomed the decision by the Abu Dhabi Executive Council and said that it will contribute to improving and developing the emirate’s position as a key regional strategic hub for the business sector.

In a separate announcement, the Abu Dhabi Chamber of Commerce and Industry said it will be exempting corporations and companies from membership fees for two years.