Abu Dhabi Chamber adds 6,236 companies in first half

Abu Dhabi, July 30, 2009 (WAM) - The Abu Dhabi Chamber of Commerce and Industry (ADCCI) saw 6,236 new companies registering with it in the first half of this year, its top official told "Emirates Business" yesterday. Mohammed Rashid Al Hameli, the chamber's Director-General, said the number was an unexpectedly buoyant one, given the present repressive economic atmosphere brought on by the global financial crisis. He said it proved the crisis has had limited effect on Abu Dhabi's economy and the second half of the year would see the chamber expand its activities to further boost Abu Dhabi's position as a global financial destination.
Al Hameli said despite the fallout of the crisis, the chamber has not held back its initiatives or earlier plans, especially the five-year plan announced last year, whose launch is expected soon.
He said Abu Dhabi was one of the least damaged markets in the global financial crisis because of its solid economy and the efficiency of its banking system. "Some 10 months into the crisis, it has been proven to all that the UAE, and Abu Dhabi in particular, have fared well. We are confident our government and institutions are capable of surmounting the global challenges and boosting the growth of all components of the national economy."
Al Hameli said the new registrations have brought the total number of companies on the chamber's register to 41,560 so far.
"The chamber praises the steps and internal preventive measures taken by the federal and local governments to protect the national economy in the face of the crisis and ensure continued economic growth," he said. – Emirates Business 24|7