Abdulla bin Touq Al Marri, UAE Minister of Economy, underscored the vital role of the private sector in driving national economic growth and enhancing global competitiveness at the 55th Annual Meeting of the World Economic Forum (Davos 2025).
During a session titled "Hard Power: A Wake-Up Call for Businesses Amid Global Economic Shifts," Al Marri stressed the UAE's commitment to fostering successful public-private partnerships, which have been central to the country’s national strategies and growth initiatives.
Al Marri revealed that 200,000 new economic licences were issued in the UAE markets in 2024, reflecting the nation’s thriving business environment. He discussed the effects of global economic tensions on the private sector and emphasized the need for businesses to rethink strategies, adopt sustainable practices, and focus on profitability enhancement in various economic sectors.
The Minister highlighted the UAE's progressive approach in issuing over 30 key economic laws, policies, and resolutions in the past four years, enhancing sectors such as e-commerce, arbitration, and family businesses. These updates have positioned the UAE as a global hub for investment and entrepreneurship, with incentives like 100% foreign ownership, digital business setup platforms, and over 40 free zones offering attractive benefits.
Al Marri also emphasized the country’s focus on emerging sectors such as artificial intelligence, fintech, and digital infrastructure, which are essential to overcoming future challenges. With the launch of more than 25 joint economic committees globally, the UAE continues to strengthen its position as a trusted partner in line with the "We the UAE 2031" vision.
News Source: Emirates News Agency
