UAE: New platform offers unified procedures, real-time data on firms across the country

The National Economic Registry (NER) -Growth also enables government entities to manage economic activities digitally based on the latest AI technologies

Waheed Abbas

Published: Mon 30 Sep 2024, 2:36 PM

Last updated: Tue 1 Oct 2024, 6:21 PM

A new platform representing the largest economic database in the UAE was launched on Monday, September 30.

Launched by the country's Ministry of Economy, the National Economic Registry (NER) - Growth platform offers a unified and real-time updated window for information on all commercial licences for companies.

This platform also allows investors and companies to search and enquire about all economic activities and access to commercial and investment opportunities available in different sectors across the UAE.

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Abdulla bin Touq Al Marri, Minister of Economy, said the Registry supports the country’s efforts to eliminate government bureaucracy. It also offers highly efficient, outstanding government services in order to become the best government services delivery model globally.

The minister noted that in the next two years, the platform aims to technically link with 100 federal and local entities as well as licensing authorities across the country. Additionally, the platform also aims to offer at least 500 services, reduce the time needed to access them, and remove any unnecessary conditions and requirements.

“It is the first digital project in the country that provides the largest unified and reliable database, with information on business licenses of all existing enterprises and companies across the seven emirates,” stated Al Marri.

National Economic Registry (NER) - Growth will also provide data on any business license in the country in more than 4,000 economic activities across the seven emirates. This will allow firms to verify the authenticity of relevant business information such as company names and trademarks.

With access to this information, companies can conduct market studies and trend analyses that support business growth. Additionally, the platform offers accurate and reliable statistics and reports, helping firms make informed economic decisions and develop sectorial economic policies.

Abdulaziz Al Nuaimi, assistant undersecretary for Entrepreneurship and Economic Affairs at the Ministry of Economy stated, “The National Economic Registry was originally a commercial registry that linked licensing authorities, as it contained all information on licensing establishments, but it has been developed and changed in accordance with the directives of the state and our leadership, so that we have a unified source for commercial and economic data."

He emphasised three key aspects of the project: first, the registry will serve as the sole source of data; second, it will act as digital enabler for government services; and third, it will ensure easy and immediate access to this information.

Al Nuaimi added that all licensing authorities and state companies, including those in the free zones, are registered in the economic registry.

He explained that the economic register helps companies provide comprehensive information, noting that implementing specific policies or strategies requires information and data to know the impact of each policy. The register also facilitates the task of various parties in conducting a simulation before the actual implementation of any policy or strategy.

The National Economic Registry also enables government entities to manage economic activities digitally based on the latest AI technologies.

“The ‘Growth’ platform is designed to enhance the competitiveness of the county’s economic legislation landscape and provide a real beneficiary data system for the private sector in the UAE,” Al Marri added.

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