As the United Arab Emirates continues to fortify its economic future, the nation has reported a remarkable development: 56,000 companies and licenses in the “new economy” sector by the end of the first half of 2025. This dynamic growth reflects the UAE’s commitment to innovation and diversification, focusing on advanced technologies and sustainable practices. The burgeoning landscape of the new economy is designed to enhance competitiveness across various industries, paving the way for a robust economic framework and positioning the UAE as a global hub for cutting-edge businesses.
Vision for the New Economy
The UAE’s vision for the new economy is anchored in its aspiration to transition from a traditional knowledge economy to a more evolved model that emphasizes sustainability and technological advancement. Abdullah bin Touq Al Marri, Minister of Economy and Tourism, highlighted that this transformation is part of the strategic roadmap aimed at making the UAE a global center for the new economy by the end of the next decade. He noted that the UAE government has identified four main pillars within its “We Are the UAE 2031” vision, underscoring this critical shift.
Thriving New Economic Sectors
According to Al Marri, the Ministry of Economy is implementing various initiatives to empower and enhance sectors within the new economy. These sectors encompass artificial intelligence, financial technology, green economy, and advanced industries. The increase to 56,000 business licenses in these areas marks a significant achievement, indicating the successful implementation of innovative strategies aimed at encouraging growth and economic viability.
Legislative Support for Transformation
To facilitate this transition, extensive collaborations with both public and private sector stakeholders have resulted in the development of proactive laws and policies. Al Marri emphasized the issuance and updating of ten key legislations, including new regulations for digital trade and intellectual property rights. Such legislative measures aim to create a conducive environment for businesses to flourish and adapt to the demands of the new economy.
Future Growth and Economic Clusters
In line with the national policy for economic clusters, which is vital for the new economy’s contribution to the GDP, Al Marri mentioned an ongoing project focused on a food cluster. This initiative aims to integrate agricultural production, food processing, and modern agricultural technologies, fostering cooperation and synergy among various entities. He stated, “This cluster aspires to boost the food sector’s contribution to the national economy, enhancing competitiveness for private companies in this growing field,” with 40,486 national and foreign brands actively registered.
The UAE’s approach not only reflects its commitment to progressive economic practices but is also a manifestation of its strategic goal to cultivate a diverse and resilient economy that thrives on innovation and attracts high-quality investments. The emphasis on sustainability, technology, and partnership underscores the foundation upon which the UAE seeks to establish itself as a frontrunner in the new economy landscape.