The UAE government has issued a federal decree-law amending several provisions of Federal Law No. 22 of 2000 concerning the Federation of Chambers of Commerce and Industry. This legislative step aims to update the legal framework for the Federation, enhance its role in developing the commercial and industrial sectors, and activate its contribution to supporting the national economy in line with the state's strategic directions. The decree-law includes replacing the official name of the Federation to become the 'Federation of Chambers of Commerce and Industry of the UAE', affirming its comprehensive federal role and unifying the Federation's institutional identity in accordance with the requirements of the next phase and the UAE's standing in the regional and global economic system. To enhance institutional efficiency, the decree-law abolishes the General Assembly from the Federation's organizational structure, expanding the powers of the Board of Directors to become the highest authority responsible for setting policies and strategic plans, approving budgets and regulatory bylaws, and proposing to join international agreements and treaties relevant to the Federation's activities. Furthermore, the decree-law grants the Board of Directors the authority to establish branches or offices within the country or abroad to serve the Federation's objectives and boost its commercial and industrial presence and representation at both local and international levels. In the context of enhancing governance and clarity in leadership responsibilities, the decree-law includes a new article concerning the determination of the powers of the Chairman of the Board of Directors of the Federation of Chambers of Commerce and Industry of the UAE, empowering him to propose policies and plans, oversee the implementation of the Federation's work, approve administrative and financial structures and regulations, and issue necessary decisions to ensure the effectiveness of the organization's performance. This legislative amendment is an extension of the UAE's approach to developing its economic legislation system and establishing a more dynamic and efficient business environment, which strengthens the country's position as a leading regional platform for trade and industry, capable of absorbing global economic developments and directing them towards achieving sustainable economic growth.
