Page 211 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

3/5/25, 1:47 PM UAE’s Fintech Sector Powers Economic Growth, Contributing 8.7% to GDP

“Fintech is one of the key sectors supporting sustainable

growth, with a goal of increasing its contribution to

approximately 12% of GDP by 2031,”

he said.

The Minister also underscored the UAE’s commitment to fostering new economy sectors,

particularly the space economy. The country aims to expand the number of companies

operating in this strategic field, reinforcing its global position. Agricultural innovation was
another focus area, driven by the UAE’s food security strategy, which promotes food

diversification, attracts investments, and localises technology to enhance the country’s role

as a global food export hub.

Highlighting the dynamic business environment, Al Marri revealed that over 200,000 new

business licences were issued in 2024, spanning various economic activities. Currently,

more than 1.1 million businesses and economic establishments operate in the UAE, with

plans to further increase this number in the coming years.

The UAE’s forward-looking policies and investment-friendly environment position the

country as a leading global hub for emerging industries and sustainable economic growth.

News Source: Emirates News Agency

https://focus.hidubai.com/uaes-fintech-sector-powers-economic-growth-contributing-8-7-to-gdp/ 2/2