"Economic integration" Discussing the promotion of the digital linking of the national economic registry

Abu Dhabi, July 14 / WAM / The Economic Integration Committee held its fifth meeting of 2025 headed by His Excellency Abdullah bin Touq Al -Marri, Minister of Economy and Tourism; And His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, and in the presence and membership of His Excellency the directors of the general local economic development departments in the seven emirates. During the meeting, the committee reviewed the developments of work in developing the regulatory and legislative environment in the country, including linking the national economic registry, enhancing organizational compliance with local registration authorities, as well as following up the progress of the collective management project for copyright in the music sector, and a number of priority initiatives that support the state’s readiness for the upcoming mutual evaluation of the Financial Work Group (FAF) in 2027.

His Excellency Abdullah bin Touq Al -Marri stressed that the Economic Integration Committee, thanks to the directives of its rational leadership, continues through its periodic meetings to coordinate efforts and enhance institutional integration between the various economic bodies, in a way that contributes to developing compliance and control tools, ensuring that the state preserves the reputation of its economy and its international position, and enhances the competitiveness of the national economy, and consolidates its position at the forefront of countries globally in developing proactive legislation supporting the sectors The new economy, in line with the targets of the “UAE 2031” vision by the next decade. His Excellency said: “The UAE has achieved a prominent achievement represented in raising its name from the list of the European Parliament for the third high -risk countries, which reflects the efficiency of its regulatory system, and its full compliance with the highest international standards in combating money laundering and terrorist financing, and enhances its position as a global economic center with confidence and credibility.” His Excellency added: “This achievement comes as a culmination of a long march of integrated institutional work in which all federal and local parties participated, and contributes directly to raising levels of confidence in the national business environment, facilitating financial and commercial dealings with European institutions, and expanding partnership and investing opportunities with major global markets.” The committee reviewed the stages of implementing the full digital linking between the local licensing authorities and the national economic registry, where a large number of registrants at the state level were completed, in addition to the fulfillment of the real beneficiary data, including the complex structures, according to the requirements of the financial work group, and the system has also been updated to include additional legal arrangements, and the provision of data in an instant and accurate manner for the supervisory authorities. The committee also discussed the developments of the project to develop the organizational framework for the collective management of the author’s rights in the music sector, in cooperation with the World Intellectual Property Organization “WIPO”, and to follow up the requirements of forming a national team that includes representatives of economic, cultural and media authorities in the country, and start consultations with a number of economic development departments to include compliance standards within the conditions of licensing for relevant activities, in a way that enhances the protection of the author’s rights and established Fair practices of musical works. The committee affirmed the follow -up of the national efforts aimed at developing the financial and legislative compliance system in the country, and the provision of a safe and transparent economic environment that enhances the UAE’s attractiveness to foreign investments, supports national entrepreneurship, and contributes to raising the state indicators within the relevant international reports and assessments, in line with the targets of the “UAE 2031” vision by achieving global leadership in developing economic legislation.

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