Foreigners can now own to 49% shares in Emirates Driving Company (DRIVE). In a move aimed at encouraging foreign investment into UAE’s equity market and help the economy grow.
Emirates Driving Company (PJSC), listed on the Abu Dhabi Stock Exchange under the name (DRIVE), affirmed its keenness to boost the economy by opening access to 49% foreign shareholding, in line with the Abu Dhabi government’s vision to open up to the global economy. It facilitates the flow of capital and improves the performance of the financial market in a way that is reflected in the economy of the country and the Emirate of Abu Dhabi in particular, and contributes to improving the classification of financial markets and raising their competitiveness in the region and the world.
Emirates Driving Company (PJSC) is a company concerned with training and qualifying applicants for obtaining a driver’s license and contributing to improving road safety factors within the Emirate of Abu Dhabi, as it offers courses for driving light vehicles, heavy vehicles, motorcycles and machineries.
Mr. Khaled Al Shemeili – Acting CEO of Emirates Driving Company – emphasized the importance of this step for the local economy, saying: “This step is a validation of the Abu Dhabi government’s vision aimed at attracting foreign investment and we are proud that we are one of the first companies to support this trend of investing capital. The foreigner. “
Mr. Khaled Al Shemeili added: “This step will help us expand and diversify our investor base by attracting foreign investors, which enhances liquidity in the Abu Dhabi financial markets. We are working to attract foreign investors, including individuals and institutions, to buy our shares.”
Emirates Driving Co. engages in the management and development of motor vehicles driving training and services. It offers courses on light and heavy vehicles, heavy buses, and motorcycles. The company was founded on April 1st, 2000 and is headquartered in Abu Dhabi, United Arab Emirates.
Since its establishment in Abu Dhabi in 2000, Emirates Driving Company has been keen to follow modern technologies and innovative methods in its training programs, which led to its success in training and qualifying approximately 55,000 applicants to obtain a driver’s license in COVID-19 pandemic-hit.
About Emirates Driving Company PJSC:
Established in 2000, Emirates Driving Company PJSC (EDC) is the foremost drivers training and road safety institute in Abu Dhabi. EDC is a public joint stock company (PJSC) partially owned by the government of Abu Dhabi. From the outset, EDC formed a partnership with Swedish Road Authority (SWEROAD) to implement the best practices in drivers training and road safety education in the emirate.
The Company sets a Quality Management system to fulfil the ISO 9001- 2015 requirements which is certified in 2007 and the OHSAS 18001-2007 in 2013.
The company’s vision is to be the leading provider of driving education and training contributing to safer roads for the community and its mission is to provide the highest quality driving education, training and standards that exceed customers’ expectations and contribute to increase road safety awareness in communities.