Geneva, UAE – The private sector has increased its contribution to the UAE GDP to more than 70 percent, making the country among the top 10 in 28 of the most important global competitiveness indicators, Member of the UAE Board of Directors of the Ajman Chamber of Commerce and Industry (ACCI) Marwan Hussein Al Shaali, revealed during his speech on behalf of the UAE Federation of Chambers of Commerce and Industry (FCCI) at the 111th session of the International Labor Conference organised by the International Labor Organisation at the Palais des Nations.
The event has drawn wide international participation, including 187 countries, and the presence of 5,000 delegates from the three working parties.
The UAE economy grew by 7.6 percent in 2022 and the total economic licences registered in the country reached over 1,014,000 licences, Al Shaali added.
Al Shaali stressed the importance of the International Labor Conference and the presence of most countries of the world to discuss the crises and the slowdown risks of the global economy, as well as climate changes and the challenges of technological digital transformation.
During his speech, he reviewed the efforts of the UAE and its role in enhancing the resilience of the global economy to face crises and mitigate the effects of climate change, which will be discussed by the Conference of the Parties to the UN Framework Convention on Climate Change (COP28), which will be hosted by the UAE in the last quarter of this year.