UAE Family Businesses Drive 60% of GDP, Shape 2031 Vision

Family-owned enterprises are at the heart of the UAE’s economic engine, contributing nearly 60% of the country’s GDP, providing over 80% of employment, and representing almost 90% of private-sector companies. These figures highlight the vital role of family businesses in achieving the UAE’s ambitious ‘We the UAE 2031’ vision, which aims to double the national GDP to AED 3 trillion.

In a recent open dialogue, the Ministry of Economy and Tourism engaged representatives from six leading family businesses to strengthen collaboration and leverage the nation’s progressive legislative environment. The discussion underscored how the UAE has built a competitive framework to ensure these enterprises thrive and remain sustainable over generations.

One of the key milestones in this journey is the world’s first dedicated Family Business Law — Federal Decree-Law No. 37 of 2022. This legislation is complemented by four ministerial resolutions establishing the Unified Family Business Register, Family Charter framework, share buyback procedures, and provisions for multiple share categories. Currently, the Unified Register is operational with 18 companies onboarded, offering services like registration, certificate issuance, and charter deposit.

The session also focused on challenges faced by family businesses, particularly intergenerational disputes that can disrupt operations and growth. The legal framework under Federal Decree-Law No. 37 of 2022 offers clear pathways to manage ownership, governance, and generational transitions, ensuring stability and long-term success.

Beyond governance, the dialogue highlighted opportunities for family businesses to expand into new economy sectors and boost investments, reinforcing their central role in shaping the UAE’s economic future. With strong regulations, structured frameworks, and a clear vision, the UAE continues to empower family-owned firms as a cornerstone of national prosperity.