Ministry of Economy launches National Economic Registry

ABU DHABI, 2nd October, 2024 (WAM) -- The Ministry of Economy announced on Tuesday the launch of the National Economic Registry (NER) - Growth, a unified and reliable database of enterprises and business licences across the seven emirates. This platform integrates the procedures and requirements for establishing businesses and conducting economic activities into a single national portal, significantly enhancing government service provision.

During the launch ceremony, Abdullah bin Touq Al Marri, Minister of Economy, emphasised that the UAE, under the guidance of its leadership, has adopted this innovative initiative to enhance the sustainable digital readiness of government entities and elevate the government services ecosystem, making it more flexible and competitive.

Bin Touq stated, "The 'Growth' platform is a remarkable achievement in advancing the national economy. It eliminates bureaucratic hurdles and delivers highly efficient government services, ensuring the UAE offers the best government services globally."

The platform provides information on over 2,000 economic activities across the UAE and offers proactive services to a broad spectrum of users, including decision-makers, business owners, investors, and research centres. It enables users to inquire about any business licence, access investment opportunities, and prepare studies on market trends, supporting business growth and government digital management of economic activities using AI technologies.

Bin Touq highlighted that the NER connects 46 entities in the country, utilising the unified economic number (ERN) to integrate data between federal and local government bodies, furthering the UAE's digital transformation of services and reducing the need for paperwork. This is aligned with the 'We the UAE 2031' vision of enhancing the UAE's leadership in government service provision.

He added that the platform will be regularly updated, enhancing transparency in business performance and supporting the UAE's global credit rating with international classification bodies. The platform adheres to the International Standard Classification System (ISIC4), promoting sustainable growth in strategic sectors.

The NER also plays a critical role in the UAE's new economic model, based on innovation and knowledge. By providing additional resources for investors and business owners, it facilitates digital business operations and currently holds 1.5 million active and cancelled commercial licences.

Looking ahead, the Ministry of Economy plans to link the platform with 100 federal and local entities, increase services to 500, and reduce service delivery times over the next two years. The platform was developed in line with various economic laws, including legislation on commercial companies, the commercial register, and anti-money laundering.

The launch ceremony was attended by key figures, including Alia bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, and representatives from 34 federal and local entities.