Page 804 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/15/24, 9:29 AM Ministry of Economy launches National Economic Registry ‘Growth’ to support the UAE’s efforts in providing proactive government…
eliminate government bureaucracy, and deliver highly efficient government services with outstanding quality, ensuring the delivery of
best government services globally.”

Data on more than 2,000 economic activities in the UAE

H.E. added: ‘The new platform provides proactive services and accurate and reliable information to a broad segment of society, which
includes decision-makers, businessmen, investors, entrepreneurs, research and studies centres, specialist firms, and the media. It
enables them to inquire about any business license in the country; find information on more than 2,000 economic activities across the
seven emirates; and access investment opportunities in various economic sectors in the country. Moreover, it can help business

owners in preparing studies and analyses on market trends, thus supporting their growth and enable government entities to manage
economic activities digitally by relying on latest AI technologies.”

‘Growth’ platform links 46 entities in the country

The Minister of Economy added: “Today, the National Economic Registry connects more than 46 entities in the country. It uses the
national identity of the unified economic number (ERN), which is a federal number, to give more information on enterprises and
companies in the country through the integration of data between federal and local government entities and licensing authorities. It
marks a remarkable step forward in the digital transformation of government services and in providing online services eliminating the
use of hardcopies or papers, supporting the achievement of the national target to enhance the UAE’s leadership in the delivery of
government services, in line with the ‘We the UAE 2031’ vision.

NER to be continually updated

H.E. pointed out that the ‘Growth’ platform contributes to regularly updating the database of commercial licenses and companies in the
country, providing most accurate results to its users. It also supports the country’s global credit rating with international classification
bodies in terms of transparency of business performances, through adherence to the International Standard Classification System
(ISIC4) for the classification of economic activities. Thus, it enhances the success of decision-makers in studying market trends and
developing necessary strategies, promoting sustainable growth of various strategic sectors.

Highlights the country’s new economic model

H.E. emphasized that the NER will play a vital role in highlighting the UAE’s new economic model based on innovation and knowledge,
and in consolidating its position as a global hub for the new economy by the next decade. It will achieve this goal through the
opportunities and additional resources that it provides to investors and business owners, facilitating the procedures for doing business
digitally. NER currently features a total of 1.5 million active and cancelled commercial licenses.

‘Growth’ platform to be linked to 100 federal and local authorities

H.E. added: “The national efforts to further enhance the ‘Growth’ platform will continue, making it more comprehensive and competitive.
Over the next two years, our aim is to link it with 100 federal and local entities and licensing authorities in the country, increase the
number of services provided to 500, reduce service delivery times, and eliminate all unnecessary criteria and requirements.”

The platform will support the competitiveness of the UAE’s economic legislative environment, as well as the ‘ultimate beneficial owner’
data system for the private sector, since the platform was developed in line with many economic laws in force, including Federal
Decree-Law No. 32 of 2021 regarding commercial companies, Federal Decree-Law No. 37 of 2021 on commercial register, and
relevant anti-money laundering and combating the financing of terrorism legislation. The list of services provided by NER can be
viewed by visiting https://www.growth.gov.ae/G2C/

The launch ceremony organized by the Ministry was attended by H.E. Alia bint Abdulla Al Mazrouei, Minister of State for
Entrepreneurship, H.E. Omar Suwaina Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology, H.E. Khalil
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