The Economic Integration Committee looks at the positive results of the 2024 national economy
Abu Dhabi, June 18 / WAM / The Economic Integration Committee held today its fourth meeting of 2025 headed by His Excellency Abdullah bin Touq Al -Marri, Minister of Economy, and in the presence and membership of His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of State for Foreign Trade, and those with happiness managers of the general local economic development circles in the emirates of the state, and reviewed the positive results achieved by the national economy in the year 2024, and its role in promoting economic diversity and competitiveness The business and investment environment in the country, and reviewed its report on following up the recommendations of its third meeting this year.
His Excellency Abdullah bin Touq Al -Marri stressed that the UAE economy thanks to the advisory vision of good leadership continues to achieve exceptional growth results in various fields and sectors, as the non -oil GDP has achieved a 5% growth and a value of 1,342 billion dirhams, and the contribution of non -oil sectors to the state’s gross domestic product reached 75.5%, which confirms the success of the policies of economic diversity that The state pursued it, and adapting to the rapid variables witnessed by the global economy.
His Excellency said during the meeting that the efforts of the committee and the economic development departments in the seven Emirates represented an important corner in achieving these distinguished results and supporting the economic competitiveness of the state regionally and globally, and we are keen to continue joint national action to develop more legislation and economic laws aimed at upgrading the business environment in the country, and enhancing its position in the forefront of countries globally in developing the proactive legislation of the new economic sectors by the solutions of the next decade, in line with what is in line with With the targets of the vision (we Emirates 2031). The committee’s meeting witnessed the discussion of the developments of cooperation plans between the federal and local authorities to develop a number of economic legislation and its importance in the state’s vision in the transformation towards the new economic model based on knowledge and innovation, in a way that contributes to achieving qualitative transfers in the competitiveness of the economic climate and the attractiveness of the business environment in the country.
The committee discussed the developments of the state’s mutual evaluation file regarding facing money laundering and combating terrorist financing in the country, as it is one of the main engines in enhancing the reputation of the national economy at the regional and global levels, where the evaluation aims to understand risks, promote policies, comply with international standards, improve efficiency, and enhance transparency in front of the international community and the business community in the state.
It also reviewed the progress of work in the operational plan for corporate regists, which is witnessing a concert in national efforts between the federal and local government agencies to achieve national targets in this aspect, and to enhance the system of real beneficiary procedures for private sector facilities. The committee reviewed the efforts of the Ministry of Economy to enhance the creative culture in society and provide integrated protection for the intellectual property rights of musicians and artists, especially granting the collective management licenses for music, which contributes to providing mechanisms to ensure financial justice for artists and creators in the distribution of revenues, and transparency in collecting and distributing the rights of the author, in order to support raising the level of competitiveness of the music industry in the country, and making it an attractive destination for creative and cultural works at the level of the world.
The Committee reviewed the national efforts in protecting Emirati products within the system of registration of the “national product specified geographically”, which contribute to opening new horizons for Emirati industries in foreign markets, preserving the cultural identity of Emirati products and promoting them globally, and turning them into economic elements that contribute to the development of local communities and enhance economic diversity.
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