Developing more legislation during the next stage

The Economic Integration Committee held its first meeting for the year 2025, headed by the Minister of Economy, Abdullah bin Touq Al Marri, and in the presence of the Minister of State for Entrepreneurship, Alia bint Abdullah Al Mazrouei, and the general directors of the local economic development departments in the emirates of the country, at a time when it confirmed that its efforts are continuing to develop more legislation and decisions. economy during the next stage.

The committee reviewed its efforts and achievements, during the year 2024, in promoting the growth and diversification of the national economy, supporting the competitiveness of the business and investment environment in the country, and contributing to the development of a number of legislation and economic policies, based on global best practices.

The Minister of Economy, Abdullah bin Touq Al Marri, said that economic work in the country in 2024 witnessed exceptional activity and concerted efforts, which resulted in fundamental developments in the shift towards a new economic model based on innovation and knowledge, and providing a pioneering and ideal economic climate, characterized by the elements of success for the business sector, investors and companies. Emerging from all over the world, in line with the vision and directives of the wise leadership.

He stressed that these efforts contributed to the UAE economy achieving strong levels of growth and competitiveness at the regional and global levels, especially with the country’s non-oil GDP recording a 4.4% growth during the first half of last year, compared to the same period in 2023, and the high contribution of non-oil sectors. Oil revenues contribute to the gross domestic product of the national economy, reaching 75% by the end of the first half of 2024.

In his speech during the meeting, Bin Touq stressed that the Economic Integration Committee succeeded in strengthening communication and coordination with the relevant authorities at the federal and local levels, to enhance the competitiveness of the economic legislative system in the country, by reviewing many laws and policies in the country and developing them in accordance with best practices.

He stressed that the committee’s efforts will continue to develop more legislation and economic decisions during the next stage, in a way that enhances the achievement of the national goal of the UAE obtaining first place in the world in developing proactive legislation for new economic sectors by the next decade, in light of the goals of the “We Are the Emirates 2031 Vision.”

The meeting reviewed the annual report on the results of the committee’s work during the year 2024, which referred to the committee’s efforts to contribute to the issuance and development of five legislation and four economic policies in the country, related to vital sectors, such as “cooperatives,” family businesses, consumer rights protection, companies, and money laundering.

The number of initiatives supported by the Committee reached 13, including an intellectual property initiative, which included enhancing innovation and creativity in companies, supporting the competitiveness of Emirati products in foreign markets, and another initiative for family companies that aimed to stimulate them to grow in the Emirati markets, and ensure their continuity across successive generations.

The report showed that during the past year, the committee held seven meetings and formed seven national working teams to promote integration and work to enforce legislation and economic policies. It also issued 79 recommendations, of which more than 98% were implemented, and work is underway to complete the rest of the recommendations.

On the other hand, the meeting witnessed a discussion of the importance of continuing to develop the intellectual property system in the country, through completing the implementation of the Ministry of Economy’s initiative “INSTABLOCK”, which aims to protect copyright in relation to live broadcasting over the Internet, and speeding up the enforcement of intellectual property rights protection regarding it, as well as the national project. “IP Finance” is concerned with facilitating startups’ access to financial financing for intangible assets and patents.