#Ministry of Economy

MoEC introduces free contract templates for Emirati startups GettyImages-1214946297-e1682524082437

UAE: MoEc offers free contract templates to help new companies, startups

The initiative aims to support Emirati startups by enabling their access to contract templates needed for the establishment of companies and business activities

UAE reduces legal age to run a business

UAE reduces legal age to run a business

The issuance of the new law replaces previous legislation that remained in effect for almost three decades

New UAE initiative ‘Thabat’ aims to support growth of family businesses

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

UAE introduces new reporting rues for real estate for transparency

UAE introduces new reporting requirements for real estate transactions

The new requirements ensure the development of regulatory frameworks, leaving little or no room for manipulation or illegal practices

FDIs in UAE grew by 116% in past decade

UAE’s FDI rises by 116% over the past decade

The cumulative FDI balance received by the UAE also increased by 141.6 percent from 2011 to 2021

Federal Tax Authority

UAE Federal Tax Authority conducts 9,948 inspection visits in H1 2022

Inspections conducted in the first half of 2022 increased by 104 per cent compared to 4,878 conducted in 2021

Startups - SMEs - Ahmad-Belhoul-Al-Falasi

Entrepreneurial Nation’s Startup Leap sees participation from 1,200 startups

Startups from 33 countries from sectors such as digital technologies, e-commerce, healthcare and fintech have participated in Startup Leap


UAE approves new mechanism to control price increase of essential commodities

Prior approval is required from the Ministry of Economy by any supplier if they wish to raise prices of certain products


Meta announces new initiative to upskill UAE startups and SMBs

The Ministry of Economy’s Entrepreneurial Nation project intends to provide support to startups through a series of public-private partnerships

UAE’s Ministry of Economy unveils list of violations, fines for money laundering

The issuance of the violations and fines list supports the UAE’s efforts in combating money laundering crimes and financing of terrorism

UAE’s Ministry of Economy reduces fees for 94 services

The financial impact on the business sector as a result of fee reduction is estimated at Dhs113m in 2020