Page 50 - MOE ENGLISH PR REPORT - FEBRUARY 2024 ( International)

Press Release

Ministry of Economy launches its new intellectual property system

and reviews its role in promoting innovation & creativity in the

UAE

Includes 11 initiatives to be implemented in cooperation with relevant government
entities in the country

Abu Dhabi, 7 February 2024:

The Ministry of Economy announced the launch of its new intellectual property (IP) system, which
includes 11 integrated initiatives in various fields and applications of intellectual property. The
initiatives are aimed at enhancing the innovation and creativity landscape in the country by
providing a competitive and conducive environment to inventors and creators to develop their
entrepreneurial ideas into innovative business opportunities and enabling creative national
competencies to effectively utilize intellectual property applications.

The launch event was organized by the Ministry in the presence of H.E. Abdulla bin Touq Al
Marri, Minister of Economy, and H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry,
as well as representatives of several federal and local government entities and academic and
research institutions in the country. These include the Ministry of Culture, Ministry of Climate
Change and Environment, Ministry of Industry and Advanced Technology, General Authority of
Sports, Community Development Authority, Dubai Electricity and Water Authority, Dubai
Government Human Resources Department, Dubai Economic Security Centre, Mohammed bin
Rashid Center for Government Innovation, Dubai Courts, Shurooq - Sharjah Investment and
Development Authority, Emirates Intellectual Property Association, Emirates Publishers
Association, and the University of Sharjah.

The Minister of Economy said: "The UAE has made great strides in developing its intellectual
property sector in accordance with global best practices, recognizing it as a fundamental and key
pillar for promoting economic growth. The launch of the new IP system is a milestone in our efforts
to enhance the country's transition into a knowledge and innovation economy and develop an
incubating national environment for intellectual property, innovation and patent activities. This is
in accordance with global best practices and in line with the objectives of the “We the UAE 2031"