At the 55th Annual Meeting of the World Economic Forum (Davos 2025), the UAE’s Minister of Economy, Abdulla bin Touq Al Marri, underscored the vital role of the private sector as a key partner in driving national economic growth and enhancing the country’s global competitiveness.
The UAE’s approach to economic development, rooted in public-private collaboration, regulatory reforms, and technological innovation © Thibaut Bouvier/WEF
At the 55th Annual Meeting of the World Economic Forum (Davos 2025), the UAE’s Minister of Economy, Abdulla bin Touq Al Marri, underscored the vital role of the private sector as a key partner in driving national economic growth and enhancing the country’s global competitiveness.
During a session titled "Hard Power: A Wake-Up Call for Businesses Amid Global Economic Shifts," Al Marri highlighted the UAE’s successful model of public-private partnerships, which has been instrumental in advancing the nation’s economic strategies and reforms over recent years.
Al Marri shared insights into the UAE’s efforts to create a dynamic and competitive economic legislative framework, issuing and updating over 30 key economic laws and policies in the past four years. These include reforms in e-commerce, arbitration, commercial transactions, and family businesses, aimed at fostering innovation and future-focused sectors.
"The UAE has pioneered a visionary approach to developing a business-friendly environment based on global best practices," Al Marri stated. "These efforts have strengthened the UAE’s position as a regional and global hub for business and investment."
The minister also noted that 200,000 new economic licences were issued in UAE markets in 2024, reflecting the country’s commitment to fostering entrepreneurial growth and investment.
The UAE’s reforms include:
These measures aim to boost the contribution of the private sector to non-oil industries, supporting the UAE’s economic diversification goals.
The session explored how global economic challenges—such as rising trade tensions, protectionist policies, and supply chain disruptions—affect private sector operations.
Al Marri emphasized the importance of flexible economic strategies that prioritize emerging sectors, foster economic openness, and promote multilateral global systems.
The minister highlighted the role of technology and innovation as critical tools for addressing future challenges. The UAE is actively investing in emerging sectors like artificial intelligence, fintech, and digital infrastructure, while implementing innovative policies to enhance its economic resilience and competitiveness.
The UAE’s approach to economic development, rooted in public-private collaboration, regulatory reforms, and technological innovation, provides a blueprint for navigating global economic uncertainties.
By fostering an environment conducive to investment and entrepreneurship, the UAE is solidifying its position as a global leader in economic resilience and innovation, ensuring sustainable growth for years to come.
By Sami Murr
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