UAE’s intellectual property sector witnessed 70% growth in 2020: Ministry of Economy

Abu Dhabi: The Ministry of Economy (MoE) announced that the country’s Intellectual Property (IP) sector has achieved a significant growth in the number of works during the past year 2020, as it witnessed a growth of 70 per cent compared to that of 2019.

The Ministry indicated that the total number of intellectual works reached 24,317 so far. It hit the highest number ever in 2020 with 2,772 intellectual works, while the year 2019 saw registration of 1,632 works, recording a growth of 32 per cent compared to 2018.

The Ministry emphasized that intellectual property works play an important role in creating and providing an enabling environment for innovation. It contributes to the establishment of a framework that facilitates the exchange and sharing of new technologies across the world, by building on the Ministry’s efforts in this regard. This will be achieved in partnership with the concerned authorities within the country and will include the development of legislation governing the IP sector, its various activities and fields, in accordance with global best practices.

The growing international confidence in the country’s IP protection framework will have a positive impact in raising the influx of talent and specialized competencies. In addition, it will strengthen the country’s reputation as a preferred destination for investment, employment or tourism purposes. Besides, it will enhance the UAE’s contribution to global intellectual and literary landscape, thereby positioning it as an incubator for innovators and creators and a strategic hub for projects based on technological and engineering innovation and creativity in authorship and design.