Page 874 - MOE ENGLISH PR REPORT - DECEMBER 2024

12/27/24, 4:24 PM UAE home to over 1.5 million trade licenses - Finance Middle East
environment. These initiatives align with the “We the UAE 2031” vision, which

focuses on transitioning to a knowledge- and innovation-based economy.

2. Legislation updates: The Committee reviewed updates on various economic

legislations aimed at enhancing competitiveness and aligning the UAE with

global best practices. Emphasis was placed on creating a proactive legislative

environment to support emerging sectors and attract foreign investments.

3. Data management excellence: The Ministry of Economy achieved a 95.7%

score on the Government Data Maturity Index, reflecting its adherence to global

best practices in data management. This accomplishment supports strategic

decision-making and strengthens the country’s comprehensive economic

database.

4. Telemarketing and consumer protection: Recommendations to regulate

telemarketing practices were discussed to safeguard consumer rights, aligning

with the UAE Cabinet’s directives.

5. Geographical indications (GI) initiative: The Committee explored initiatives to

protect UAE products with geographical indications, such as dates, honey, dairy

and fish. This aims to:

Strengthen global competitiveness and market access.
Preserve the national heritage and promote traditional industries.

Support adherence to intellectual property standards.

6. Economic diversification: The Committee emphasised ongoing efforts to

attract investments, expand SMEs, and develop new economic sectors, ensuring

the UAE remains an attractive destination for local and foreign businesses.

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