The UAE Government Issues a Federal Law Decree Amending Certain Provisions of the Law on the Federation of Chambers of Commerce and Industry

The UAE government has issued a federal law decree aimed at amending certain provisions of the Law on the Federation of Chambers of Commerce and Industry, numbered 22 of 2000. This legislative move is part of efforts to update the legal framework governing the federation’s work, thereby enhancing its role in developing commercial and industrial sectors. In doing so, the UAE government aims to increase contributions to supporting the national economy in line with the country’s strategic directions.

Updating the Federation’s Corporate Identity

One of the most significant amendments included in the law decree is the renaming of the federation to “Federation of UAE Chambers of Commerce and Industry.” The goal of this change is to strengthen the federation’s corporate identity, taking into account the requirements of the upcoming phase and the importance of the UAE in the regional and international economic context.

Enhancing Administrative Efficiency

To increase institutional effectiveness, the general assembly has been removed from the federation’s organizational structure. In its place, the powers of the board of directors have been expanded to become the supreme body responsible for setting policies and strategic plans, as well as approving budgets and regulatory bylaws. Additionally, the law decree grants the board the authority to propose joining international agreements and treaties related to the federation’s activities.

New Powers for the Board Chair

The amendments also include a new article aimed at defining the powers of the Chair of the Board of the Federation of UAE Chambers of Commerce and Industry. Under these powers, the Chair becomes responsible for proposing policies and plans, overseeing the implementation of the federation’s activities, and approving administrative and financial structures and regulations. These reforms aim to ensure effective institutional performance and improve governance standards.

A Look to the Future

These legislative amendments signify the UAE’s commitment to enhancing the business environment and supporting economic growth. They seek to establish the country as a leading regional hub in trade and industry, bolstering its ability to address the growing challenges of the global economy and achieve sustainable development.