Page 24 - MOE ENGLISH PR - APRIL 2024

Press Release

Ministry of Economy hosts an array of events aimed at raising

awareness on IP rights in creative industries & fostering an
environment conducive to innovation in the UAE

Initiative in celebration of World Intellectual Property Day 2024

Abu Dhabi, 30 April 2024:

The Ministry of Economy (MoEc) hosted an array of events in connection with the World
Intellectual Property (IP) Day, celebrated this year under the theme ‘IP and SGDs: Building Our
Common Future with Innovation and Creativity.’ The initiative emphasized why IP protection is
key to the achievement of Sustainable Development Goals (SDGs) and is a priority for the UAE
in all sectors, particularly the economic one. It highlighted the proactive approach adopted by the
UAE in establishing a legislative and regulatory framework that promotes IP rights and supports
creators of ideas and entrepreneurial ventures in line with global best practices.

H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, said: "Under the directives
of its wise leadership, the UAE has achieved remarkable success in establishing a leading legal
framework for IP. This framework adheres to the highest global standards and aims to enhance the
importance of knowledge and creativity in driving economic growth. The country has enacted
three laws on the regulation and protection of industrial property rights, trademarks, copyrights,
and neighboring rights. Furthermore, it has launched an integrated system consisting of 11
initiatives that include all intellectual property applications. These initiatives align with the nation's
vision to transition to an innovative and knowledge-based economy model, while also fostering
research and development."

The Undersecretary explained that these initiatives have played a significant role in fostering a
national environment conducive to promoting intellectual property, innovation and patents. MoEc
received a total of 3,415 patent registration applications in the past year alone, marking a notable
increase of 19.5 per cent compared to that of 2022. This surge in applications has resulted in a total
of over 5,000 patents being registered in the country.

H.E. added: "MoEc actively participates in celebrating the World Intellectual Property Day
considering it as a valuable opportunity to raise awareness on the crucial role played by intellectual
property in supporting and sustaining the national economy. It also underscores the UAE and
MoEc's commitment to providing enablers and opportunities for talents and owners of innovative