UAE family businesses drive 60% of GDP, key to 2031 Vision

Family businesses remain a vital force in the UAE’s economy, contributing around 60 per cent of the country’s GDP, providing more than 80 per cent of jobs, and making up nearly 90 per cent of all private sector companies.

The Ministry of Economy and Tourism highlighted these figures during an open dialogue session with representatives from six major family-owned firms.

The meeting focused on strengthening engagement with the sector and helping businesses benefit from the UAE’s advanced legal and regulatory framework — all in line with the 'We the UAE 2031' vision.

Abdulaziz Al-Nuaimi, Assistant Undersecretary for Entrepreneurship and the Economic Affairs Regulatory Sector at the Ministry, said the UAE has taken major steps to support the long-term prosperity of family enterprises, including the launch of the world’s first comprehensive Family Business Law — Federal Decree-Law No. 37 of 2022.

This law, along with four supporting ministerial resolutions, has established a Unified Family Business Register and introduced tools like the Family Charter and flexible share structures to support long-term growth.

The Register is now fully operational and currently includes 18 companies, benefiting from services like certification and charter registration.

The session also addressed challenges such as internal disputes among second-generation owners, with the new legal framework offering solutions to ensure smooth succession and sustainable growth.