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The Ministry of Economy recently (MoE) outlined its Uniform Commercial Register project at a specialized forum held in Macedonia. Director of IT at the Ministry Essam Al-Falasi, who represented the ministry to the meeting, said the register which was completed last year is being implemented at different governmental departments. He added that the project which is the first of its kind in the UAE is among the most important technological projects undertaken in the UAE in terms of approach and implementation.
In remarks at the forum, the official said UCR had linked the UAE's economic chambers and local municipalities with the Ministry through a centralized system, facilitating efficient, non-repetitive, and uniform investor and trade name registration at the national level. UCR, he added, also features a database on commercial registers and licensed economic sectors containing valuable data on sizes and capital investments; thus providing critical information for future economic plans and modernization initiatives. Through unifying the classification of national economic activities, the project complements the UAE's efforts to boost economic development and is expected to contribute significantly to the creation of effective strategies for sustained economic progress, he noted.
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