Ministry of Economy & Tourism launches second phase of economic policy development project in partnership with OECD

Event explores mechanisms for building an integrated economic policy framework rooted in diversification, efficiency, and transparency

The Ministry of Economy and Tourism launched the second phase of the UAE’s Economic Policy Development Project in partnership with the Organization for Economic Cooperation and Development (OECD). The project aims to modernize economic policies and legislation in line with global best practices and standards, reinforce national efforts to enhance the competitiveness of the business environment, and support the diversification and growth of the national economy.

The announcement was made during an event organized by the Ministry in Dubai in the presence of H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism; H.E. Dr. Maria Hanif Al Qassim, Assistant Undersecretary for Policies and Economic Studies at the Ministry of Economy & Tourism. The event was also attended by representatives from various other ministries, federal and local government entities, as well as senior officials from the OECD.

H.E. Bin Touq said: “Thanks to the directives of our wise leadership, the UAE today stands out with an advanced and pioneering economic legislative environment that has achieved significant milestones in recent years. Over the past four years alone, more than 30 economic legislations and resolutions were developed, driving national economic growth and fostering a competitive legislative landscape that attracts investors, entrepreneurs, and business owners from around the world. Today, the country is home to over 1.1 million businesses and economic institutions.”

His Excellency added in his speech at the event: “The launch of the second phase of the Policy Alignment Project reflects the UAE’s ongoing national efforts and steadfast commitment to shaping a forward-looking, innovative, and sustainable vision for the country’s economic legislative system. It also reinforces our partnerships with leading international organizations and institutions in this field. Furthermore, the project supports our national objective of positioning the UAE as the global leader in developing proactive legislation for emerging economic sectors by the next decade, in line with the We the UAE 2031 vision.”

Her Excellency Dr. Maria Al Qassim stated: “Our renewed collaboration with the OECD is a key driver in formulating proactive and agile economic policies in the UAE, empowering the private sector and fostering a dynamic business environment that supports investors and entrepreneurs. This, in turn, contributes to building a competitive, knowledge-based, and sustainable economy, especially in light of the accelerating global transformations we are witnessing today.”

The second phase of the project is centered around two main pillars. The first focuses on enhancing governance and institutional integration within the UAE’s tourism ecosystem, alongside the development of robust data systems, which serve as a cornerstone for evidence-based policymaking. It also emphasizes embedding sustainability across the tourism sector to ensure sustained growth and lasting economic and social impact.

The second pillar involves hosting an edition of the Business Advisory Board (BAB) Forum in Dubai before the end of the year. This forum will serve as the MENA-OECD Competitiveness Programme’s primary platform for dialogue between the public and private sectors. The objective of this pillar is to promote regional integration and strengthen private sector participation in the policymaking process, contributing to the development of more open and competitive economies across the region.

The event also spotlighted key achievements of the project’s first phase, particularly in aligning the UAE’s economic legislation and policies with global best practices. Various sessions showcased real-world examples of successful legislative development across various economic and investment sectors, explored mechanisms for building an integrated economic policy framework rooted in diversification, efficiency, and transparency, and reviewed the Business Advisory Board’s action plan to enhance public-private sector collaboration. In addition, the sessions shed light on the UAE’s policies and ongoing efforts to build a sustainable tourism sector.