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7/23/24, 2:48 PM Economic integration Committee reviews national efforts to enhance the competitiveness of legislative environment - Middle East N…

H.E. said: “The Economic Integration Committee and the local economic development departments play a
vital role in enhancing the competitiveness of the UAE’s business environment at the regional and
international levels, boosting economic activity in the country, and supporting its attractiveness to domestic

and foreign investments. Today’s meeting discussed mechanisms for enhanced cooperation between
relevant government entities to continue the development of the country’s economic legislation and policies.
This supports the UAE’s efforts to achieve the world’s number one position in the development of proactive

legislation for new economic sectors by the next decade, in the light of the ‘We the UAE 2031’ vision.”

H.E. Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship, expressed her happiness in joining

the Economic Integration Committee, comprised of a highly competent national team. H.E. highlighted the
Committee’s significance as a platform for discussing and formulating legislation and policies pertaining to

entrepreneurship and startups. Ultimately, this contributes to the UAE’s endeavours in creating a favourable
environment for the development of Emirati small and medium-sized enterprises (SMEs).

The latest Committee meeting extensively discussed various strategies to improve the operations of family
businesses in the country and support their continuity. They also urged these businesses to join the “Unified
Family Businesses Registry” maintained by the Ministry of Economy by submitting applications to local

registration authorities. This aligns with the provisions outlined in Federal Decree-Law No. 37 of 2022 on
Family Businesses. Additionally, the Committee emphasized the significance of fostering collaboration
between the Ministry and relevant entities within the country to facilitate the growth of the cooperative sector.

The objective is to motivate cooperative societies to diversify into new economic sectors and activities,
including education, healthcare, housing, technology, and more, in accordance with the country’s national
objectives for this crucial sector. The targets encompass increasing the sector’s contribution to the gross

domestic product (GDP) to 5 per cent and expanding the number of contributors to 500,000 by 2031.
In addition, the Committee discussed the development of a database and statistics for the services sector in
the state in line with international best practices. The project aims to strengthen the role of the balance of

payments in accurately recording and monitoring all financial transactions in various sectors. The meeting
also highlighted the ongoing national efforts to establish a Higher Committee for Trade in Services. Chaired

by H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the Committee comprises
around 15 national entities engaged in trade in services within the country.

Furthermore, the meeting reviewed the results achieved through the implementation of the Ministerial
Development Council’s resolutions on the enforcement of tax compliance among individuals engaged in e-

commerce activities, as well as social media influencers. The Committee highlighted the existing legislation
that prohibits any commercial activity without a valid commercial license, irrespective of whether it is
conducted via physical or virtual store or any other technological medium. The Committee commended the

efforts of the national team responsible for supervising the implementation of these resolutions.

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