UAE’s Fintech Sector Powers Economic Growth, Contributing 8.7% to GDP

The UAE’s financial technology (Fintech) sector continues to drive economic growth, contributing 8.7% to the country’s Gross Domestic Product (GDP), according to Abdullah bin Touq Al Marri, Minister of Economy.

Speaking on the sidelines of Investopia 2025 in Abu Dhabi, Al Marri highlighted Fintech’s pivotal role in supporting sustainable development and other key sectors.

“Fintech is one of the key sectors supporting sustainable growth, with a goal of increasing its contribution to approximately 12% of GDP by 2031,”

he said.

The Minister also underscored the UAE’s commitment to fostering new economy sectors, particularly the space economy. The country aims to expand the number of companies operating in this strategic field, reinforcing its global position. Agricultural innovation was another focus area, driven by the UAE’s food security strategy, which promotes food diversification, attracts investments, and localises technology to enhance the country’s role as a global food export hub.

Highlighting the dynamic business environment, Al Marri revealed that over 200,000 new business licences were issued in 2024, spanning various economic activities. Currently, more than 1.1 million businesses and economic establishments operate in the UAE, with plans to further increase this number in the coming years.

The UAE’s forward-looking policies and investment-friendly environment position the country as a leading global hub for emerging industries and sustainable economic growth.

News Source: Emirates News Agency