Page 590 - MOE ENGLISH PR - MAY 2024

5/27/24, 9:26 AM PRESSR: Minister of Economy participates in SALT iConnections Forum — TradingView News
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.”

-Ends-

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