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5/27/24, 9:25 AM Minister of Economy participates in SALT iConnections Forum to highlight UAE’s status as a prime hub - Middle East News 247
H.E. Bin Touq emphasized that the UAE is one of the most attractive destinations for setting

up and conducting businesses today. Over the past years, it has succeeded in developing a
number of legislations and procedures that have enabled the business community to grow

and compete. These include a law on trade through the means of modern technology, and

laws on intellectual property, industrial property, trademarks, and copyright. The country has

also strengthened the legislative environment for family enterprises considering them as an
important pillar in promoting sustainable growth and transitioning towards an economy based

on knowledge and innovation.

The UAE has also allowed 100 per cent foreign direct ownership of companies and

enterprises, increasing the number of companies operating in the UAE by 43 per cent or

275,000 between 2020-2022, bringing the total number of companies operating in the UAE to

more than 788,000 by the end of 2023.

H.E. added: “High value-added emerging industries are the driving force behind the economic
growth sectors of the new economy, green growth, sustainable finance, and investment, and

the tourism sector. The UAE shares this vision with the United States at the government,

private and corporate levels, which opens the prospects for stronger partnerships.”

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