Ministry of Economy signs MoU with ADNOC to integrate data, enhance digital transformation of National Economic Register

As part of its efforts to enhance the digital transformation of the National Economic Registry (‘Growth’ platform) and to broaden its partner base, the Ministry of Economy signed a memorandum of understanding (MoU) with ADNOC. The partnership will facilitate the integration of data and statistics and contribute to enhancing the digital connectivity between the two parties.

The MoU was signed by Abdulaziz Al Nuaimi, Assistant Undersecretary for Entrepreneurship and the Economic Affairs Regulatory Sector at the Ministry of Economy; and Dr. Saleh Al Hashimi, Director of ADNOC's Commercial and ICV Directorate. The signing took place on the sidelines of the first edition of the ‘Abu Dhabi Business Week’ hosted by the Abu Dhabi National Exhibition Centre (ADNEC) from 4 to 6 December 2024.

Al Nuaimi said that the collaboration with ADNOC supports the Ministry's efforts to enhance digital integration through the ‘Growth’ platform, which is a new milestone in enhancing the country’s digital infrastructure and driving economic development. This aligns with the national goal of making the country the most leading with superior system, in accordance with the pillars of “We the UAE 2031” vision. Al Nuaimi highlighted that the signing of the MoU reflects the Ministry's vision to maximize the benefits of data as a strategic tool for supporting sustainable development and enhancing the national economy’s competitiveness.

He.added: “Through this partnership, we will work to improve the quality of data and develop innovative mechanisms to analyze and harness it effectively, which will enhance the efficiency of operations and consolidate our commitment to the highest global standards in this regard. Our efforts also underline the importance of coordination and cooperation between the government and private sectors.”

The MoU will enhance cooperation and coordination in terms of digital connectivity between the two parties and establish a mutual framework to exchange information, collect data and statistics, and increase their efficiency, in line with approved methodologies in accordance with best practices in the field.

Furthermore, the two parties will jointly work to integrate databases and encourage the exchange of expertise, knowledge and successful experiences in common areas, which will contribute to developing the capabilities and skills of the work teams on both sides.

The Ministry of Economy launched the National Economic Register in early October as the largest unified and reliable database for all commercial licenses owned by establishments and companies across the seven emirates. It standardizes the procedures and requirements for establishing businesses and practicing economic activities in the country through a unified national portal.

The ‘Growth’ platform connects more than 46 entities in the country and includes the national identity of the Unified Economic Number (ERN) that links data between the federal and local government entities and licensing authorities. The platform enables users to obtain information on any commercial license in the country from among more than 2,000 economic activities, enabling more flexible electronic transactions.