Page 705 - 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
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 enhancing the competitiveness of UAE’s
products in global markets. Another initiative focused on

empowering family businesses, driving their growth and ensuring their

sustainability across generations.

The report highlighted that during the past year, the Committee held seven

meetings, formed seven national task forces to enhance economic integration and

cooperation between federal and local entities, and worked on implementing key

economic legislation and policies.

It also issued 79 different recommendations, of which over 98 per cent have been
successfully implemented and the remaining in progress. Additionally, the

Committee continued its efforts to ensure the effective implementation of the anti-

money laundering and countering the financing of terrorism (AML/CFT) framework,

with a focus on regulating company registrars and supervising designated non-
financial businesses and professions (DNFBP) sector. These efforts contributed to

the UAE’s delisting from the Financial Action Taskforce (FATF)'s grey list.

The meeting underscored the importance of further developing the UAE’s

intellectual property system. This includes advancing collaborative efforts to
implement the Ministry of Economy’s ‘Instablock’ initiative, which aims to protect

copyrights of live online broadcasts and immediately responds to IP right

violations.

Another significant national project, ‘IP Finance,’ aims to facilitate access to
financial resources for startups by leveraging intangible assets and patents. This

initiative seeks to empower innovation-driven entrepreneurship and strengthen the

intellectual property framework within the UAE’s startup and SMEs ecosystem.

Ultimately, these measures contribute to the growth and competitiveness of the

knowledge economy and emerging economic sectors in the country.

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