The UAE Ministry of Economy was established in accordance with Federal Law No (1) of 1972. The Ministry set out an ambitious growth vision aiming to achieve an internationally competitive and diversified economy driven by efficient and knowledgeable UAE nationals. This vision is aligned to the goals outlined in the UAE Vision 2021.
The ministry playing a major role in facilitate an enabling business landscape and formulate business-friendly policies that would consolidate the UAE’s reputation as a regional and global business hub. By Enactment of enabling financial legislations and updating of such legislations periodically to encourage as well as regulate the economic business environment.
Development of national industries and exports. Regulating the Small and Medium Enterprises (SMEs) sector and encouraging entrepreneurship. Protection of consumer rights and intellectual property rights. 
In addition, coordinating economic, commercial and industrial plans and programs among the different emirates of the UAE. Encouraging national exports and facilitating the access of the UAE’s exports to new markets through eliminating the obstacles that hinder growth.
Attracting the seamless flow of foreign direct investment into the UAE through promotion campaigns focusing on the enabling investment environment and opportunities that the UAE offers.
Implementation and follow-up of multilateral and bilateral international and regional conventions such as WTO, multilateral and bilateral free trade conventions, as well as through continually monitoring developments at international organizations, entities and councils.