Page 376 - MOE ENGLISH PR REPORT - JANUARY 2025

1/24/25, 2:57 PM Minister of Economy spotlights UAE's competitive advantages at Davos 2025
(Davos 2025), Al Marri added that the UAE has consistently involved the private

sector in numerous national strategies and plans launched over the past years,

creating a unique model of successful public-private partnerships in the country.

He stated that the number of new economic licences issued in UAE markets totalled

200,000 in 2024.

The session explored the impact of global tensions on the private sector and how

businesses are rethinking strategies to strengthen their tools and adopt sustainable

practices to address economic challenges regionally and internationally.

It also discussed mechanisms to enhance profitability across various economic

sectors, as well as the importance of providing additional incentives and enablers to

encourage entrepreneurs to achieve high growth rates and expand into vital and

sustainable sectors.

Bin Touq said, "The UAE has pioneered a visionary approach to developing a

dynamic and competitive economic legislative framework based on global best
practices. Over the past four years, the nation has issued and updated over 30 key

economic laws, policies, and resolutions, focusing on new and future-centric
sectors, including e-commerce, arbitration, commercial transactions, family

businesses, and cooperatives.

"These efforts have made the UAE a more attractive destination for businesses and

entrepreneurs from around the world, strengthening its position as a regional and

global hub for business and investment."

He added that the UAE has provided the private sector with all necessary enablers

and resources to increase its contribution to non-oil sectors. These include granting

100 percent foreign ownership of companies, advanced technological infrastructure,

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