Family Business Symposium showcases innovation and strategic wealth planning

Al Tamimi & Company, a leading full-service law firm in the Middle East, hosted the Family Business Symposium 2025 in Abu Dhabi in collaboration with the UAE Ministry of Economy last month. The event brought together legal experts, business leaders, and government officials to discuss the evolving landscape of family-owned enterprises, focusing on modern governance, wealth planning, and the transformative role of technology in business.

The symposium welcomed more than 200 prominent stakeholders, offering a platform for thought-provoking discussions on how family businesses can navigate governance and succession challenges in a rapidly changing economic environment.

Role of family businesses

At the event, Abdulla Bin Touq Al Marri, UAE Minister of Economy, highlighted the importance of family businesses to the UAE’s economy and reinforced the country's commitment to fostering their growth.

“The UAE has embraced a comprehensive vision to enhance the sustainability of family businesses, under the directives of its wise leadership,” he said. “This approach reflects the country's belief in the pivotal role such businesses play in driving economic growth, creating job opportunities, and transferring knowledge and expertise across generations. Today, the UAE has become a preferred and attractive destination for family businesses from across the globe, leveraging its leading legislative infrastructure and its strategic location connecting Asia, Africa, and Europe.

“Family businesses serve as the cornerstone of the national economy, making up nearly 90 per cent of the UAE's private companies. Their investments span key strategic sectors, including industry, tourism, technology, real estate, and logistics services.

“The Ministry of Economy has launched a set of pioneering legislation and initiatives, remarkably the Federal Decree bylaw No. 37 of 2022 on Family Businesses. It provides an advanced framework to ensure the continuity of this vital sector across generations and strengthen its governance. We have also launched the Unified Family Business Registry and the Thabat programme, which support family companies’ expansion into future economic sectors and enhance the readiness of the next generation of family business leaders in domains including innovation, technology, and institutional governance.”

Importance of legacy planning

Shamis Al Dhaheri, Second Vice Chairman and Managing Director at the Abu Dhabi Chamber of Commerce and Industry, spotlighted the importance of legacy and long-term planning in securing the future of family businesses at the event.

“Legacy is not just something you inherit—it’s something that you build, protect, and pass forward with intention,” said Al Dhaheri. “Preparing the next generation is not just about planning for succession, but also about instilling good guidance structures, ensuring flexibility at all levels and making sure everyone holds themselves accountable.

“Family businesses are at the heart of Abu Dhabi’s economic success, contributing significantly to both employment and growth. At the Abu Dhabi Chamber of Commerce and Industry, we are committed to empowering the next generation and ensuring they have the values, tools, and vision they need to thrive in an ever-changing world.”

Key drivers of economic growth

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, echoed this sentiment. “Family businesses are among Dubai’s key drivers of economic growth and remain central to the nation’s long-term prosperity,” he said. “We are committed to supporting these enterprises through the Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers. The centre has introduced a range of impactful programmes and initiatives designed to enhance governance, facilitate smooth succession planning, and foster sustainable growth. By equipping current and future leaders of family-owned businesses with the skills and knowledge needed to ensure continuity and success, we are enabling them to thrive and contribute meaningfully to our economy for generations to come.”

Legal framework

Essam Al Tamimi, Founder and Chairman of Al Tamimi & Company, shared expert insights during a fireside chat, emphasising the vital role legal frameworks play in securing the longevity of family businesses.

“The future of family businesses is built on resilience, adaptability, and sound legal structures,” he said. “This symposium is a testament to our commitment to empowering family businesses with the legal tools they need to thrive and evolve in today’s digital-first world.

“As legal advisors, we have a responsibility to help guide family businesses through these transitions, ensuring continuity and success across generations. I would also like to extend my sincere thanks to Abdulla Bin Touq Al Marri and the UAE Ministry of Economy for their unlimited support for family businesses in the UAE, and for their ongoing efforts to create a legislative and institutional environment where these businesses can truly flourish.”

The event concluded with a networking session that encouraged dialogue and collaboration between key players in the legal, business, and government sectors, marking a pivotal step towards a more resilient and future-ready family business ecosystem in the UAE.

Strategic collaborators for the event included Abu Dhabi Chamber of Commerce and Industry, Dubai Chambers, Emirates Family Office Association (EFOA), and National Centre for Family Business. Sponsors of the Family Business Symposium 2025 were AlixPartners, JTC, Deloitte Private Wealth, Farrer & Co, and PwC.