Abdullah bin Touq Al Marri, Minister of Economy, highlighted the financial technology (Fintech) sector’s significant role in driving economic growth, stating that it currently contributes 8.7% to the UAE’s Gross Domestic Product (GDP).
He emphasised that Fintech is a crucial sector supporting sustainable economic expansion, with an ambition to raise its GDP contribution to nearly 12% by 2031. Speaking to the Emirates News Agency (WAM) during Investopia 2025, which commenced today in Abu Dhabi, he underscored its impact on various industries.
The Minister further noted that the UAE continues to foster investment-friendly conditions, particularly for emerging industries such as the space economy. The country aims to expand the number of companies in this strategic field and strengthen their position in line with the UAE’s global standing in the sector.
Additionally, he highlighted agricultural innovation as a key sector with strong potential, backed by a well-defined food security strategy. This initiative seeks to promote food diversification by attracting investment and advancing local technological capabilities, reinforcing the UAE’s position as a global hub for food exports.
Meanwhile, he revealed that 200,000 new business licences were issued in the UAE in 2024 across various economic sectors. Currently, over 1.1 million businesses and economic entities operate in the country, with plans to further expand this figure in the coming years.
