Page 704 - MOE ENGLISH PR REPORT - JANUARY 2025

1/20/25, 4:49 PM Economic Integration Committee Reviews Its Achievements, Efforts In Promoting National Economic Growth - UrduPoint
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.

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