Page 696 - MOE ENGLISH PR REPORT - JANUARY 2025

1/20/25, 4:49 PM UAE : Economic Integration Committee reviews its achievements, efforts in promoting national economic growth - Yemen Online |
contributions to enhancing the competitiveness of the country’s business and investment
environment, and to the development of a number of economic legislation and policies in line

with global best practices.

Bin Touq said, “The UAE’s economic performance in 2024 is the result of exceptional and
concerted efforts that led to substantial progress in our transition towards a new economic

model based on innovation and knowledge. As a result, we were able to establish a leading and

exemplary economic climate for the success of businesses, investors and startups from around
the world.”

He added that these efforts supported the national economy’s growth and competitiveness at

the regional and global levels. For instance, the UAE’s non-oil GDP during the first half of 2024
grew by 4.4 per cent compared to the same period in 2023, while non-oil sectors' contribution to

the GDP rose to 75 per cent by the end of H1 2024.

Furthermore, Bin Touq emphasised the Committee’s success in enhancing dialogue and
coordination with stakeholders at the federal and local levels to promote the competitiveness of

the country's economic legislative system.

This was achieved through the review and development of several laws and national policies in
accordance with global best practices, strengthening national efforts to ensure the

harmonization of legislation and regulations, and submitting proposals for the sustainability and

growth of national economic sectors and activities.

The Minister of Economy pointed out that the Committee remains steadfast in its efforts to
develop new economic legislation and resolutions to achieve the national goal of positioning the

UAE as a global leader in the development of proactive legislation for new economic sectors by
the next decade, in line with the ‘We the UAE 2031' vision.

The meeting reviewed the Committee’s 2024 annual report, showcasing its role in issuing and

developing five laws and four economic policies governing vital sectors in the UAE, including
cooperatives, family businesses, consumer rights protection, corporate governance, and anti-

money laundering.

The committee also supported 13 initiatives in critical economic areas. Among these was an
intellectual property initiative aimed at fostering innovation and creativity within companies while

https://yemenonline.info/gulf-news/8559 2/3