Page 446 - MOE ENGLISH PR REPORT - JULY 2024

7/23/24, 2:49 PM PRESSR: Economic integration Committee reviews national efforts to enhance the competitiveness of legislative environment — Tr…
H.E. Bin Touq emphasized the UAE's desire to develop a comprehensive

economic legislative system based on international best practices and provide

all enablers for the growth and prosperity of businesses of all sizes as well as
family companies, cooperatives and brands in the UAE. The efforts also focus on

encouraging them to expand into new economic sectors, thereby strengthening

the UAE's position as a global destination for business and investment.

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

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