UAE Ministry Reviews Laws To Streamline Ecommerce Businesses
A new milestone in the country’s efforts for digital transformation, facilitating the conduct of ecommerce businesses, enhancing its efficiency, reducing the cost of doing business, and enhancing stability.
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The Ministry of Economy introduced the Federal Decree-Law No. 14 of 2023 on Commerce through Modern Means of Technology (ecommerce) in line with the country’s strategic direction for digital transformation.
The law aims to stimulate trade growth through advanced technologies and the development of smart infrastructure in the country. It supports the UAE’s attractiveness to investments and enhances its leadership as a global business and trade hub.
Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, emphasised said, “We are witnessing a new milestone in the country’s efforts to achieve sustainable economic and social development through the promulgation of the new law for ecommerce. The law forms part of the integrated legislative updates undertaken by the UAE government to accelerate the transition towards a new economic model and achieve higher levels of competitiveness for the country’s business and trade environment.”
Furthermore, he explained that the new law is particularly important as it is the UAE’s main federal legislation governing ecommerce. It has been designed to enhance the business environment in the country by facilitating the conduct of business and contracting, enhancing its efficiency, reducing the cost of doing business, and enhancing stability.
Some of the provisions and outputs of the law that affirm the UAE’s vision for the ecommerce sector will include compatibility with international digital commerce trends, secure technology infrastructure for ecommerce services, organised digital payment gateways in coordination with the relevant entities in the country, etc.
