The UAE economy is expected to expand by more than 5% this year, with non-oil sectors projected to grow above 5.5% and account for 78% of gross domestic product, according to Economy and Tourism Minister Abdulla bin Touq Al Marri.
Speaking on the sidelines of the Investopia Partners event in Abu Dhabi, Al Marri said the outlook reflects the resilience and diversification of the national economy. Moreover, he noted that diversified growth drivers continue to underpin expansion.
He attributed the performance to the country’s strategic vision and structural reforms aimed at strengthening the business environment. Over the past few years, more than 40 laws and regulations governing the business ecosystem have been updated to enhance competitiveness and ease of doing business.
In addition, the number of companies registered in the national economic register has increased to more than 1.45 million, up from about 650,000 five years ago. Therefore, the figure highlights the UAE’s growing appeal to global investors. Al Marri added that registrations are projected to reach 2 million by 2031.
He also said reforms, including amendments to the Commercial Companies Law, have helped position the UAE as a global hub for family businesses managing regional and international operations.
