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UAE aims to boost fintech’s GDP contribution to 12% by 2031

Fintech is poised to contribute approximately 12% to the UAE's GDP by 2031.

UAE aims to boost fintech’s GDP contribution to 12% by 2031
[Source photo: Krishna Prasad/Fast Company Middle East ]

The UAE continues to cultivate opportunities and create a favorable investment climate for the growth of emerging economic sectors. Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, emphasized that the financial technology sector plays a crucial role in driving economic growth, contributing 8.7% to the nation’s GDP.

“Fintech is one of the key sectors supporting sustainable growth and other economic sectors, with a goal of increasing its contribution to approximately 12% of GDP by 2031,” he shared with the Emirates News Agency (WAM) during the launch of Investopia 2025 in Abu Dhabi.

“The UAE continues to create opportunities and establish a favorable investment environment for the growth of new economy sectors, particularly the space economy. The country aims to increase the number of companies operating in this strategic sector and empower them in alignment with the UAE’s global position in this vital field.”

He also pointed out that the agricultural innovation sector is one of the promising areas in the UAE, driven by a robust 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.”

Additionally, the Minister revealed that 200,000 new business licenses were issued in the UAE in 2024 across various economic sectors. He also noted that the total number of businesses and economic establishments in the country has exceeded 1.1 million, with plans for further growth in the near future.

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