1.5 million commercial licenses in the country

The Minister of Economy, Abdullah bin Touq Al Marri, confirmed that the efforts of the Economic Integration Committee continue to cooperate with all concerned parties in the country to develop an advanced legislative environment that supports the country’s vision of diversifying its national economy, enhancing its attractiveness to local and foreign investments, and increasing the number of companies operating in its markets, especially since The UAE has more than 1.5 million commercial licenses.

This came during the committee’s seventh meeting for the year 2024, chaired by Abdullah bin Touq Al Marri, and in the presence of the Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Entrepreneurship, Alia bint Abdullah Al Mazrouei, and representatives of local economic development departments in the emirates of the country.

Bin Touq said that, thanks to the directives of the wise leadership, the UAE was able to establish its position as an ideal destination for economic activities, through its forward-looking vision and its constant development in accordance with the best international practices, and adopting flexible economic policies and advanced legislation that supports innovation and keeps pace with changes, in a way that supports the country’s directions to become the first place in the world. In developing proactive legislation for new economic sectors in light of the objectives of the “We are the Emirates 2031” vision.

The agenda of the committee meeting, which was held via video communication technology, included a review of developments in the development of a number of economic legislation and their importance in enhancing the competitiveness of the business environment in the country, and supporting its vision of shifting towards a new economic model based on knowledge and innovation, in addition to following up on the recommendations of the sixth meeting, in particular Those related to reviewing marketing mechanisms via telephone calls, and raising the efficiency of organizing these activities in a way that ensures the protection of consumers’ rights, in implementation of the directives of the Council of Ministers.

The committee reviewed the results of the Ministry of Economy and local economic development departments in the country in the government data maturity index, in which the ministry achieved a distinguished level of 95.7%, which reflects the ministry’s adherence to best practices in data management and flow, and contributes to the development of an integrated economic database that supports the agenda. The future economy of the UAE, supports making strategic decisions that enhance international economic relations, helps monitor the financial performance of companies, and ensures the sustainability and competitiveness of small and medium enterprises.

The committee also discussed a proposed initiative to support and protect the intellectual property of Emirati products with geographical indications, and to enhance their expansion and competitiveness in regional and global markets, by protecting the rights of Emirati producers in international markets, and stimulating the production of national products that reflect Emirati identity and heritage, which contributes to the growth of trade relations with Partners through mutual recognition of geographical indications, and supports the UAE’s global reputation as a country of origin for high-quality products, such as dates, dairy products, honey and fish.

In this context, the committee stressed the need for producers to adhere to all production standards and controls related to protecting intellectual property rights for trademarks for products with geographical indications, in coordination and cooperation with the relevant authorities to facilitate licensing and follow up on compliance with standards, which contributes to supporting traditional industries, encouraging tourism, and protecting heritage. National.