Abu Dhabi: Abdullah bin Touq Al Marri, Minister of Economy, stated that the financial technology (Fintech) sector continues to power growth, contributing 8.7% to the UAE's Gross Domestic Product (GDP).
According to Emirates News Agency, Al Marri emphasized that fintech is one of the key sectors supporting sustainable growth and various economic sectors, with a goal of increasing its contribution to approximately 12% of GDP by 2031. He made these remarks on the sidelines of the Investopia 2025, which commenced today in Abu Dhabi.
The Minister highlighted that the UAE is actively creating opportunities and establishing a favorable investment environment for the growth of new economy sectors, particularly the space economy. The nation aims to increase the number of companies operating in this strategic sector and empower them, aligning with the UAE's global position in this vital field.
Al Marri also mentioned that the agricultural innovation sector is among the promising sectors in the UAE, driven by a clear food security strategy. This strategy contributes to achieving food diversification by attracting more investments and localizing technology, ultimately enhancing the UAE's status as a global hub for food exports.
Furthermore, the Minister revealed that the number of new business licenses issued in the UAE in 2024 reached 200,000, covering various economic activities. He noted that there are currently more than 1.1 million businesses and economic establishments operating in the UAE, with the ministry seeking to increase this number in the coming phase.
