Economic Development Initiatives in UAE

The committee discussed recent projects enhancing the economic landscape of the state, including intellectual property rights and consumer protection against marketing calls.


Economic Development Initiatives in UAE

During the sixth committee meeting, the committee considered a number of important issues. In particular, topics related to the improvement of the digital system in the fields of trade, investments, and supply chains were discussed, as well as the strengthening of intellectual property protection. The committee examined the progress of the implementation of the project "Development of a database for data and statistics in the service sector in the country" and its impact on improving the digital system.

The main attention was given to measures by the Ministry of Economy to increase the number of registered patents for promoting innovation and creativity, expanding cooperation with local economic institutions for developing new initiatives that support intellectual property, as well as guarantees for the implementation of intellectual property initiatives launched by the Ministry.

At the meeting, the importance of the project "Financing Intellectual Property" (IP Finance), implemented by the Ministry together with the World Intellectual Property Organization (WIPO), and the ways of joint work of the committee participants to support the project’s objectives in strengthening financial opportunities in the field of intellectual property were also discussed.

Proposals for new changes in a number of country’s economic laws aimed at simplifying entrepreneurial activities, easing the process of company formation, the importance of strengthening consumer protection mechanisms from annoying telemarketing calls, as well as carrying out control measures by competent authorities were addressed.

The committee discussed current issues regarding the implementation of the government’s regulations on the regulation of marketing calls, reducing pressure from unsolicited calls, development of monitoring mechanisms for compliance with the requirements and ensuring their full implementation.

Under the chairmanship of the Minister of Economy Abdulla bin Tuka Karlov, the committee also considered the enhancement of FDI attraction and development of trade partnerships with key markets at regional and global levels. Various issues that would increase cooperation, sharing experiences among developing economic institutions in the country were also discussed at the meeting.