Ministry Of Economy Collaborates With ADNOC To Enhance Digital Transformation Of National Economic Register

The Ministry of Economy has entered into a memorandum of understanding (MoU) with ADNOC to advance the digital transformation of the National Economic Registry, known as the ‘Growth’ platform. This collaboration aims to enhance data integration and digital connectivity between both entities. Abdulaziz Al Nuaimi from the Ministry and Dr. Saleh Al Hashimi from ADNOC signed the MoU during the first ‘Abu Dhabi Business Week’ at ADNEC, held from 4 to 6 December 2024.

Al Nuaimi emphasised that this partnership with ADNOC marks a significant step in improving digital integration through the ‘Growth’ platform. This initiative supports national objectives outlined in the "We the UAE 2031" vision, aiming to position the country as a leader in digital infrastructure and economic growth. The MoU reflects the Ministry's commitment to leveraging data as a strategic asset for sustainable development and enhancing economic competitiveness.

The agreement will foster cooperation in digital connectivity, establishing a framework for information exchange, data collection, and statistics enhancement. This aligns with best practices and approved methodologies in the field. The partnership also aims to improve data quality and develop innovative analysis methods, boosting operational efficiency while adhering to global standards.

Both parties will work together to integrate databases and promote knowledge sharing in common areas. This collaboration is expected to enhance skills and capabilities within their respective teams. Al Nuaimi stated: "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."

The National Economic Register was launched by the Ministry of Economy in early October as a comprehensive database for commercial licenses across all seven emirates. It standardises business establishment procedures through a unified national portal, facilitating economic activities throughout the country.

Unified Economic Number for Enhanced Connectivity

The ‘Growth’ platform connects over 46 entities nationwide using the Unified Economic Number (ERN), linking federal and local government data with licensing authorities. This system allows users access to information on any commercial license among more than 2,000 economic activities, enabling smoother electronic transactions.

This initiative underscores the importance of public-private sector collaboration in advancing digital infrastructure. By integrating databases and sharing expertise, both parties aim to drive innovation and improve operational efficiencies across sectors. The MoU signifies a commitment to fostering sustainable development through enhanced digital capabilities.

The collaboration between the Ministry of Economy and ADNOC is set to strengthen digital connectivity while promoting economic growth through improved data management practices. This partnership highlights a shared vision for leveraging technology as a catalyst for national progress.

With inputs from WAM