Ministry of Economy hosts an array of events aimed at raising awareness on IP rights - Middle East News 247
July 16, 2024

Ministry of Economy hosts an array of events aimed at raising awareness on IP rights

The Ministry of Economy (MoEc) hosted an array of events in connection with the World Intellectual Property (IP) Day, celebrated this year under the theme ‘IP and SGDs: Building Our Common Future with Innovation and Creativity.’ The initiativeemphasized why IP protection is key to the achievement of Sustainable Development Goals (SDGs) and is a priority for the UAE in all sectors, particularly the economic one. It highlighted the proactive approach adopted by the UAE in establishing a legislative and regulatory framework that promotes IP rights and supports creators of ideas and entrepreneurial ventures in line with global best practices.

H.E. Abdullah Al Saleh, Undersecretary of the Ministry of Economy, said: “Under the directives of its wise leadership, the UAE has achieved remarkable success in establishing a leading legal framework for IP. This framework adheres to the highest global standards and aims to enhance the importance of knowledge and creativity in driving economic growth. The country has enacted three laws on the regulation and protection of industrial property rights, trademarks, copyrights, and neighboring rights. Furthermore, it has launched an integrated system consisting of 11 initiatives that include all intellectual property applications. These initiatives align with the nation’s vision to transition to an innovative and knowledge-based economy model, while also fostering research and development.”

The Undersecretary explained that these initiatives have played a significant role in fostering a national environment conducive to promoting intellectual property, innovation and patents. MoEc received a total of 3,415 patent registration applications in the past year alone, marking a notable increase of 19.5 per cent compared to that of 2022. This surge in applications has resulted in a total of over 5,000 patents being registered in the country.

H.E. added: “MoEc actively participates in celebrating the World Intellectual Property Day considering it as a valuable opportunity to raise awareness on the crucial role played by intellectual property in supporting and sustaining the national economy. It also underscores the UAE and MoEc’s commitment to providing enablers and opportunities for talents and owners of innovative ideas, facilitating the transformation of these ideas into profitable business ventures. This, in turn, will play a vital role in supporting the private sector and promoting sustainable practices in economic activities. It also recognizes the importance of innovation and intellectual property in driving this trend forward, in line with this year’s IP Day theme. Moreover, these efforts contribute to achieving the goals set by the ‘We the UAE 2031’ vision, to establish the country as a leading global hub for the new economy, driven by innovation, creativity, and entrepreneurship.”

As part of the World IP Day 2024, MoEc hosted a series of introductory seminars, workshops, and competitions from April 22 to 30. These events were all curated to increase awareness on national laws and regulations pertaining to intellectual works and the procedure to safeguard creative works, thus strengthening the role of patents in supporting science and technology fields. Additionally, these endeavors contributed to encouraging the transition towards sustainability in the realm of intellectual works.

World IP Day is an annual global event celebrated on April 26, bringing together countries, organizations, and institutions that are involved in intellectual property matters. This event was initiated by the World Intellectual Property Organization (WIPO), coinciding with the organization’s establishment in 1970, with the aim of increasing awareness on the significance of intellectual property rights. It also serves as an occasion to promote awareness on various aspects of intellectual property including trademarks, patents, industrial designs, copyright, and creative industries.

Last Updated on 3 months by Middle East News 247

    Middle East News 247

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