#Ministry of Economy
The initiative aims to support Emirati startups by enabling their access to contract templates needed for the establishment of companies and business activities
The issuance of the new law replaces previous legislation that remained in effect for almost three decades
The programme aims to transform 200 family business projects into major companies by 2030 with a market value exceeding Dhs150bn and annual revenue of Dhs18bn
The new requirements ensure the development of regulatory frameworks, leaving little or no room for manipulation or illegal practices
The cumulative FDI balance received by the UAE also increased by 141.6 percent from 2011 to 2021
Inspections conducted in the first half of 2022 increased by 104 per cent compared to 4,878 conducted in 2021
Startups from 33 countries from sectors such as digital technologies, e-commerce, healthcare and fintech have participated in Startup Leap
Prior approval is required from the Ministry of Economy by any supplier if they wish to raise prices of certain products
The Ministry of Economy’s Entrepreneurial Nation project intends to provide support to startups through a series of public-private partnerships
The issuance of the violations and fines list supports the UAE’s efforts in combating money laundering crimes and financing of terrorism
The financial impact on the business sector as a result of fee reduction is estimated at Dhs113m in 2020