Page 833 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/15/24, 9:31 AM Ministry of Economy launches National Economic Registry
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 1.5

million 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.

The launch ceremony was attended by key figures, including Alia bint Abdullah Al

Mazrouei, Minister of State for Entrepreneurship, and representatives from 34

federal and local entities.

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