Tourism

The Ministry of Economy and Tourism (MoET) organized an open dialogue session with representatives of six major family-owned businesses in the UAE, as part of its ongoing efforts to strengthen direct engagement with the sector and ensure these enterprises fully benefit from the country’s progressive legislative and regulatory framework.

The initiative is aligned with the Ministry’s commitment to supporting the sustainability, competitiveness, and growth of family businesses — a vital pillar of the UAE’s national economy.

H.E. Abdulaziz Al Nuaimi, Assistant Undersecretary for Entrepreneurship and the Economic Affairs Regulatory Sector at the Ministry, emphasized that the UAE has made significant progress in developing a comprehensive and integrated legislative ecosystem to drive the long-term prosperity of family enterprises.

“Family businesses contribute approximately 60 per cent of the UAE’s GDP, account for over 80 per cent of employment, and represent nearly 90 per cent of private-sector companies nationwide,” said H.E. Al Nuaimi. “They are a cornerstone of the national economic vision and central to achieving the objectives of the ‘We the UAE 2031’ strategy, which aims to double the nation’s GDP to AED 3 trillion within the next decade.”

H.E. noted that, in collaboration with partners across the public and private sectors, the Ministry launched Federal Decree-Law No. 37 of 2022 on Family Businesses — the world’s first comprehensive legislation dedicated to this sector. The Ministry has also issued four ministerial resolutions to strengthen the framework, including:

• Establishing the Unified Family Business Register;

• Introducing the Family Charter Framework;

• Defining procedures for share buybacks by family-owned companies; and

• Enabling the issuance of multiple share categories to enhance flexibility and governance.

Unified Family Business Register Now Fully Operational

H.E. Al Nuaimi explained that the Unified Family Business Register is now fully operational through an integrated digital system aligned with the licensing procedures of local authorities across the UAE. The register currently includes 18 companies, providing essential services such as company registration, certificate issuance, and family charter deposits.

Empowering Sustainable Growth and Generational Continuity

During the dialogue, participants received a detailed briefing on the Family Business Law, including mechanisms designed to ensure governance, sustainability, and smooth intergenerational transition. The discussion also explored strategies to empower family enterprises, promote expansion into new economy sectors, and strengthen their resilience in a rapidly evolving business environment.

“These measures enhance the competitiveness of the UAE’s business and investment ecosystem while giving family enterprises the flexibility to scale both domestically and internationally,” H.E. Al Nuaimi added.

Addressing Challenges and Building Future-Ready Enterprises

The dialogue addressed key challenges faced by family-owned companies, particularly those related to ownership and management transitions between generations. Participants discussed the solutions offered under Federal Decree-Law No. 37 of 2022, which provides a unified legal framework for governance, ownership management, and dispute resolution.

The session also emphasized the importance of fostering stronger connections among family business leaders to exchange knowledge, experiences, and best practices that contribute to more agile, sustainable, and future-ready business models.

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