Ibn Touq: 8.7% The contribution of the financial technology sector to the local product of the Emirates

Abu Dhabi, February 26 / WAM / His Excellency Abdullah bin Touq Al -Marri, Minister of Economy, said that the financial technology sector continues to grow, as it contributes 8.7% with the gross domestic product of the Emirates and is one of the main sectors supporting the process of sustainable growth and other economic sectors, with the goal of raising its contribution to the gross domestic product To about 12% by 2031.
He added in statements to the Emirates News Agency “WAM” on the sidelines of the 2025 Investigation activities that started today in Abu Dhabi that the UAE continues to create opportunities and create the appropriate investment environment for the growth of the new economy sectors, especially the space economy, as it aims to increase the number of companies operating in this strategic sector and empower them with what It is in line with the UAE’s global position in this vital field.
His Excellency pointed out that the agricultural innovation sector is one of the most promising sectors in the UAE, as it starts from a clear strategy for food security that contributes to achieving food diversity by attracting more investments and technology localization, which would enhance the state’s position as a global center for food exports.
On the UAE’s dealing with global economic challenges such as inflation and fluctuations in energy markets, His Excellency Abdullah bin Touq Al -Marri said that there are global challenges such as the possibilities of slowing global growth and instability of oil prices and geopolitical tensions. Despite this, the UAE has succeeded in adopting pre -emptive policies and strategies that contributed to diversifying its economy .
He added that the UAE continues to enhance the growth and competitiveness of its economy through its continuous commitment to innovation and sustainable development, which helps it overcome any potential economic risks, pointing out that the effective economic policies of the Emirates maintained a low rate of inflation, which contributed to stabilizing the cost of living compared to many other economies.
With regard to the developments of the “National Economic Registry” project, Maali Abdullah bin Touq said that the ministry is currently continuing to cooperate with its partners from the federal and local authorities concerned. And the economies of knowledge in the country and represents a strong boost to support the process of developing commercial records in all the emirates of the country according to the best global practices used in this Counting.
His Excellency pointed out that after the completion of the implementation of this project, all transactions will be made through the unified number of the economic registry, without the need to re -use documents and data on different government agencies, and will also enhance the confrontation of cyber crimes and enhance cybersecurity, as the platform is currently linking more than 50 A party in the state and we are working continuously to expand the electronic connection of the platform.
The Minister of Economy said that the number of new economic licenses that entered the Emirati markets in 2024 reached 200 thousand licenses operating in various economic activities, indicating that there are currently more than 1.1 million companies and economic institutions operating in the UAE markets and the ministry seeks to increase this number during the stage Next.

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