Family businesses play a dominant role in the UAE’s economy, contributing about 60 percent of the country’s GDP, generating over 80 percent of employment, and representing nearly 90 percent of private-sector companies, according to the Ministry of Economy and Tourism.
The ministry shared these figures during an open dialogue session with representatives from six major family-owned enterprises, reaffirming their pivotal role in advancing the “We the UAE 2031” vision to double the national GDP to AED 3 trillion.
Abdulaziz Al-Nuaimi, Assistant Undersecretary for Entrepreneurship and the Economic Affairs Regulatory Sector, said the UAE has established a competitive legislative framework to secure the long-term growth and sustainability of family businesses.
He highlighted that the UAE was the first country to introduce comprehensive legislation dedicated to the sector through Federal Decree-Law No. 37 of 2022. The law is supported by four ministerial resolutions that created the Unified Family Business Register, introduced the Family Charter framework, outlined share buyback procedures, and allowed the issuance of multiple share categories.
The Unified Family Business Register is now fully operational, with 18 companies registered so far. It provides key services including registration, certificate issuance, and charter deposit.
Al-Nuaimi also discussed mechanisms to strengthen governance, ensure smooth generational transitions, and encourage family businesses to expand into new economy sectors.
Participants in the meeting addressed challenges facing the sector, particularly conflicts among second-generation owners, and explored legal solutions provided under the Family Business Law to safeguard continuity and stability across generations.
News Source: Emirates News Agency
