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Department Of Planning And Economy-Abu Dhabi And Emcredit Sign Data Sharing Agreement











Abu Dhabi Department of Planning and Economy (DPE) signed today a cooperation agreement with Emcredit, the country’s pioneer information services company, under which Emcredit will gain access to trade license information on all companies registered in the Emirate through an electronic link, in a move that would enhance the standards of transparency and disclosure in the commercial sector in Abu Dhabi and the UAE at large. The agreement was signed today at the DPE headquarters in Abu Dhabi by HE Mohammed Omar Abdullah, DPE Undersecretary on behalf of the DPE and Ali Ibrahim, Managing Director of Emcredit on behalf of Emcredit, in the presence of HE Hamad Salem Lekharebani Al Nuaimi, Executive Director for Commercial Affairs at the DPE; and Zaid Kamhawi, Chief Business Officer and Ghazi Al-Shobaki, Government Solutions Head of Emcredit. HE Mohammed Omar Abdullah said that signing the agreement offered a true example public-private sector collaboration that would enhance the ease of doing business in the country, meanwhile providing for the first time an integrated one-stop platform for information on the companies registered in Abu Dhabi. The DPE Undersecretary noted that that the total number of business licenses registered in the Emirate of Abu Dhabi had exceeded 144,000 by last October, more that 107,000 of which were issued during the period January to October, 2008; including 7,724 license for establishments, 740 licenses for limited liability companies and 883 for branches of local companies, 254 branches of foreign companies, 54 for partnerships, 19 public joint stock companies, 6 for private joint stock companies and 29 licenses for Limited Partnerships. He added that this marked increase in the number of registered trade licenses reflects the huge expansion experienced by the Emirate of Abu Dhabi in business activity, necessitating further cooperation and coordination amongst various stakeholders in order to ensure that the Emirate has a sound and attractive business environment for companies that wish to do business in the country. Mr. Abdulla expressed his hope that this joint initiative with Emcredit would aid companies with sophisticated tools to operate successfully in the Emirate of Abu Dhabi in particular and in the UAE in general, pointing out that the new partnership between the two sides could enhance the “Enterprise Information Report” launched by Emcredit to serve as a authoritative reference for assessing and verifying general and legal information on different types of firms. For his part, Ali Ibrahim, Managing Director of Emcredit, said he was delighted to sign the agreement with the DPE-Abu Dhabi, pointing out that Enterprise Information Report draws on first-hand from ministries, commercial registries, economic departments, thus ensuring credibility and updating of the report content. "This cooperation will provide companies a clearer perspective on potential partners and their track record before entering into any commercial dealings with them, thereby enhancing the efficiency of cross-border trade,” added Ibrahim. He noted that this cooperation would also help companies make better-informed decisions, ensuring higher levels of mutual trust and greater ease of doing business. Under the terms of the agreement the two parties commit to complete the necessary networking for electronic connectivity, develop plans of action for the project and set up the project team, which will follow-up on the various technical and administrative functions throughout the phases of the project. The DPE will electronically provide Emcredit with information on all commercial licenses, names and activities of companies, along with all any relevant information that is not deemed confidential under applicable laws. The two parties also committed to cooperate and follow-up to ensure timely performance of the project and to draw up a joint plan for its regular evaluation.

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