UAE signs MoU with WIPO to advance intellectual property ecosystem and strengthen policy integration across innovation, education, and industry
H.E. Abdulla bin Touq Al Marri, Minister of Economy and Tourism, stated that the agreement with WIPO marks a significant step forward in enhancing the institutional framework of the UAE's IP ecosystem. He emphasized that it reflects the leadership's vision of establishing a comprehensive legislative and service environment that protects the rights of innovators and creators, and fosters a competitive, knowledge-based, and innovation-driven economy. H.E. added that collaboration with WIPO will accelerate the adoption of global tools and policies in digital transformation, capacity-building, and knowledge policy integration, further cementing the UAE's position as a global hub for the new economy and creative industries.
H.E. said: "Intellectual property is a key enabler of our country's knowledge-based economic model, fostering innovation and supporting entrepreneurship in scientific, technological, and cultural fields. Therefore, the Ministry of Economy and Tourism continues to enhance the UAE's IP ecosystem in line with international best practices. To this end, we are forging partnerships with our global partners and relevant global organisations and keeping pace with global technical and legislative developments in this regard, aligned with the objectives of 'We the UAE 2031' to solidify the UAE's position as a global hub for the new economy."
The agreement was signed by H.E. Bin Touq and Daren Tang, Director General of WIPO. Under the terms of the agreement, both parties will collaborate on supporting digital transformation, developing joint projects, and building institutional and human capacities. They will also strengthen policy integration across innovation, education, industry, and intellectual property through leveraging WIPO's expertise. A joint working group will be formed to follow up the implementation, assess progress, update the action plan, and share technical reports and information, thereby reinforcing the competitiveness of the UAE's innovation and creativity sectors at regional and global levels.
This collaboration reaffirms the UAE's position as a key partner in shaping the global intellectual property landscape and highlights its leading role in supporting initiatives that foster a resilient, innovation-driven, and technology-based economy, while safeguarding the intellectual property rights of creators and inventors across vital sectors.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ARN News Center
5 hours ago
- ARN News Center
UAE imposes AED 42 million in fines over money laundering in H1
The UAE has imposed more than AED 42 million in fines on private sector firms across 1,063 cases of money laundering in the first half of 2025, the Ministry of Economy and Tourism said on Thursday. In a crackdown on money laundering, the Ministry said that these violations cover four sectors under its supervision within the designated non-financial business and professions sectors. A total of 473 violations were detected by several establishments in precious metals and gemstones trading sector, with fines worth AED 20 million imposed. Establishments in the real estate brokerage sector received 495 violations, with a value of approximately AED 18.5 million, while the corporate service providers and auditors sectors recorded 95 violations, with a value exceeding AED 4 million. Her Excellency Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry, emphasized that these results reflect the progress made by the Ministry in developing its regulatory system, which is based on an advanced methodology aimed at ensuring the highest levels of compliance with anti-money laundering legislation in the country's designated non-financial business and profession sectors, based on a clear mechanism for on-site and on-site inspections. She stated that these inspection campaigns are part of the Ministry's strategy to build a business environment based on transparency and governance, and to activate proactive oversight tools to address risks related to money laundering and terrorist financing. This will consolidate the UAE's position as a trusted economic hub that adheres to the highest global standards of compliance. Al Safi explained that inspection teams detected violations based on specific technical indicators and regulatory standards, noting that the imposition of administrative penalties primarily aims to encourage establishments to rectify their situations and improve their internal systems, particularly with regard to implementing due diligence procedures, improving the quality of risk assessments, and enhancing the reporting of suspicious transactions. Through these efforts, the Ministry of Economy and Tourism said it is working to spread a culture of preventive compliance and build genuine institutional awareness within the targeted sectors. It also continues field monitoring and evaluation to ensure full compliance with relevant legislation. The Ministry called on all entities subject to anti-money laundering legislation to take advantage of this phase to develop their oversight systems and fully comply with regulatory requirements. It affirmed its continued implementation of inspection and oversight campaigns in accordance with a precise oversight plan based on international best practices.
Dubai Eye
7 hours ago
- Dubai Eye
UAE imposes AED 42 million in fines over money laundering in H1
The UAE has imposed more than AED 42 million in fines on private sector firms across 1,063 cases of money laundering in the first half of 2025, the Ministry of Economy and Tourism said on Thursday. In a crackdown on money laundering, the Ministry said that these violations cover four sectors under its supervision within the designated non-financial business and professions sectors. A total of 473 violations were detected by several establishments in precious metals and gemstones trading sector, with fines worth AED 20 million imposed. Establishments in the real estate brokerage sector received 495 violations, with a value of approximately AED 18.5 million, while the corporate service providers and auditors sectors recorded 95 violations, with a value exceeding AED 4 million. Her Excellency Safia Hashim Al Safi, Assistant Undersecretary for Commercial Control and Governance at the Ministry, emphasized that these results reflect the progress made by the Ministry in developing its regulatory system, which is based on an advanced methodology aimed at ensuring the highest levels of compliance with anti-money laundering legislation in the country's designated non-financial business and profession sectors, based on a clear mechanism for on-site and on-site inspections. She stated that these inspection campaigns are part of the Ministry's strategy to build a business environment based on transparency and governance, and to activate proactive oversight tools to address risks related to money laundering and terrorist financing. This will consolidate the UAE's position as a trusted economic hub that adheres to the highest global standards of compliance. Al Safi explained that inspection teams detected violations based on specific technical indicators and regulatory standards, noting that the imposition of administrative penalties primarily aims to encourage establishments to rectify their situations and improve their internal systems, particularly with regard to implementing due diligence procedures, improving the quality of risk assessments, and enhancing the reporting of suspicious transactions. Through these efforts, the Ministry of Economy and Tourism said it is working to spread a culture of preventive compliance and build genuine institutional awareness within the targeted sectors. It also continues field monitoring and evaluation to ensure full compliance with relevant legislation. The Ministry called on all entities subject to anti-money laundering legislation to take advantage of this phase to develop their oversight systems and fully comply with regulatory requirements. It affirmed its continued implementation of inspection and oversight campaigns in accordance with a precise oversight plan based on international best practices.
Khaleej Times
10 hours ago
- Khaleej Times
UAE: Dh42 million in fines to private sector firms under anti-money laundering laws
More than Dh42 million in administrative fines have been issued during the first half of 2025 following inspections targeting private sector firms that failed to comply with anti-money laundering (AML) regulations, the Ministry of Economy and Tourism stated on Thursday. A total of 1,063 violations were recorded across non-financial businesses and professions, including precious metals and gemstones trading, real estate brokerage, corporate service providers, and auditors. Of the total, 473 violations were detected in the precious metals and gemstones sector, leading to fines worth Dh20 million. Real estate brokers faced 495 violations amounting to nearly Dh18.5 million. Another 95 violations, worth over Dh4 million, were found among corporate service providers and auditors. The Ministry of Economy and Tourism said the fines are part of ongoing efforts to strengthen regulatory oversight and push firms to align with the country's AML laws. 'These results reflect how much progress we've made in upgrading our inspection system to ensure stronger compliance with financial crime legislation,' said Safia Hashem Al Safi, Assistant Undersecretary for Commercial Control and Governance. She said the penalties aim to drive companies to fix internal shortcomings, apply proper due diligence, and improve risk evaluations. Violations were flagged using specific technical indicators and regulatory benchmarks. The ministry said it will continue field and desk inspections and urged firms to use this period to improve internal controls and avoid future penalties. 'The UAE is working to reinforce its position as a trusted economic hub, aligned with international standards on governance and AML compliance,' Al Safi added.
