Page 95 - MOE ENGLISH PR - APRIL 2024

5/6/24, 8:57 AM Ministry of Economy hosts an array of events aimed at raising awareness on IP rights in creative industries
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 ideas, facilitating the transformation of these ideas into

profitable business ventures. This, in turn, will play a vital role in supporting the private

sector and promoting sustainable practices in economic activities. It also recognizes the
importance of innovation and intellectual property in driving this trend forward, in line with

this year's IP Day theme. Moreover, these efforts contribute to achieving the goals set by

the ‘We the UAE 2031’ vision, to establish the country as a leading global hub for the new
economy, driven by innovation, creativity, and entrepreneurship."

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