Page 418 - MOE ENGLISH PR REPORT - JUNE 2024

6/24/24, 2:27 PM Economic Integration Committee reviews progress of National Registry, discusses UAE's endeavours in enhancing trademark prote…
named as the premier global destination for initiating and conducting new economic ventures,
according to the 2024 Global Entrepreneurship Monitor (GEM) report. This recognition
resonates with the objectives outlined in the 'We the UAE 2031' vision, which seeks to
position the UAE as a compelling and influential economic hub within the next decade.”
Bin Touq underlined how important it is for the Economic Integration Committee and local
economic development departments to support national efforts to improve and update
competitive and flexible economic laws and policies. This is playing a vital role in supporting
the UAE's vision of transitioning to a knowledge-based and innovative new economic model.
Additionally, it will contribute to attracting foreign direct investments and instilling confidence in
investors, businessmen, and capital owners within the national economy.
During the meeting, Bin Touq emphasized the significant indicators of economic growth
achieved by the UAE under the vision and guidance of the wise leadership in 2023. These
accomplishments include the GDP of the UAE at constant prices, which has grown by 3.6 per
cent from 2022 to AED 1.68 trillion. Furthermore, the non-oil GDP at constant prices reached
AED 1.25 trillion, experiencing a growth rate of 6.2 per cent in comparison to 2022. These
figures solidify the UAE's position as the fifth-largest economy globally in terms of real GDP
growth index. Additionally, the UAE has been ranked the first in the region and the 18th
globally in the World Economic Forum's Travel and Tourism Development Index (TTDI) 2024,
climbing seven places from its 25th global ranking in 2019.
Last week, the UAE signed an Economic Partnership Agreement with South Korea, marking
the beginning of a new era of economic growth and promoting positive collaboration across
various sectors such as trade, investment, and economy. This agreement aims to foster
constructive cooperation with one of the world's strongest economies.
The Committee has reviewed the progress made in the different stages of development of the
National Economic registry, utilising the latest technological solutions and artificial intelligence.
The registry consists of two phases: the first links data from local licenses issued by UAE
emirates to companies and institutions, and the second links data from licenses issued by
free zones to companies and institutions, as well as data of all kinds of licenses from all
registration authorities in the UAE and free zones. Once the development process of the
registry is finished, an integrated database of companies registered in the country will be
provided in line with the best practices and legislations, developing sectoral economic policies
based on comprehensive, precise, and continuous data.
The Committee further reviewed the UAE's efforts aimed at fortifying the trademark
registration and protection system, taking into consideration the legislations implemented by
the country in alignment with the best standards. These efforts play a pivotal role in enhancing
the UAE's attractiveness to trademark-related investments and advancing the growth of its
products in the Emirati markets, ultimately enhancing the reputation of the national economy.
Notably, the total number of registered trademarks, owned by both local and international
companies, has reached an impressive figure of 216,937 trademarks.

https://www.godubai.com/1/179482/Economic-Integration-Committee-reviews-progress-of-National-Registry,-discusses-UAE's-endeavours-in-... 2/2