The UAE is on a transformative journey to become a leading global hub for the new economy, driven by visionary legislative developments and forward-thinking economic policies. Abdullah bin Touq Al Marri, the UAE's Minister of Economy, highlighted this ambitious vision during his address at the Sharjah Investment Forum.

A Vision for a Knowledge-Based Economy

Minister Al Marri emphasized the UAE's commitment to building a national economy rooted in knowledge and innovation. This vision aims to propel the UAE towards comprehensive development, aligning with the country's sustainable development goals.

Key Legislative and Economic Initiatives

Several significant legislative and economic initiatives were outlined by the Minister:

Commercial Companies Law Amendment: The UAE has amended its Commercial Companies Law, allowing 100% foreign ownership and establishment of companies. This move is designed to enhance the UAE's appeal to global investors.

Updated Visa and Residency Systems: New visa and residency paths for independent business owners and green residency have been introduced, aiming to attract talent, entrepreneurs, and innovative projects to the UAE.

Federal Law on Family Businesses: The issuance of the Federal Law on Family Businesses and Dispute Resolution Mechanisms underscores the UAE’s commitment to becoming a global leader in regulating family business environments.

National Economic Registry: Development of the National Economic Registry is underway, aligning with global best practices to promote transparency and efficiency.

Green Growth Policies: The UAE is committed to green growth and the circular economy, with a goal of achieving net zero emissions by 2050.

Comprehensive Economic Partnership Agreements: The UAE has launched partnership agreements with major emerging markets and developing countries, including India, Indonesia, and Turkey, covering nearly a fifth of the world's population.