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10/15/24, 9:30 AM UAE launches National Economic Registry with listing of 1.5m commercial licences - Arabian Business: Latest News on the Middle…
He added that the platform will be regularly updated, enhancing transparency in business
performance and supporting the UAE’s global credit rating with international classification
bodies.
The platform adheres to the International Standard Classification System (ISIC4), promoting
sustainable growth in strategic sectors.
The NER also plays a critical role in the UAE’s new economic model, based on innovation
and knowledge. By providing additional resources for investors and business owners, it
facilitates digital business operations and currently holds 1.5m active and cancelled
commercial licences.
Looking ahead, the Ministry of Economy plans to link the platform with 100 federal and
local entities, increase services to 500, and reduce service delivery times over the next two
years.
The platform was developed in line with various economic laws, including legislation on
commercial companies, the commercial register, and anti-money laundering.
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