Sunday 29 January 2023 - 8:11:41 am

Over 500 trademarks renewed in UAE in May 2020

ABU DHABI, 3rd June, 2020 (WAM) -- The number of trademarks renewed in the UAE in May 2020 exceeded 500, highlighting the significant confidence in the country as a leading regional centre for major international companies.

Figures issued by relevant authorities, including the Ministry of Economy, show that the trademarks renewed in May 2020 include those from major companies from around the world.

The previous year witnessed a 15 percent increase in the number of trademarks that made the UAE a headquarter for their business, compared to the previous year, confirming the country’s leadership as an attractive business environment in the Middle East.

The UAE is keen to provide an ideal business environment for investors and has established top-class facilities and effective infrastructure, making it among the most competitive countries both regionally and internationally.

The World Bank’s "Doing Business 2019," ranked the UAE in the 11th place globally and first in the Arab region for the sixth consecutive year. The report considers the UAE among the best countries in the world in over half of its categories, including in the categories of ease of tax payment, electricity delivery, issuance of construction licences, and property registration.

The UAE’s retail sector has attracted many major global companies and over 63 related trademarks have been registered in the country, enabling it to outpace several prominent countries in commercial activities, including the UK and Germany.

The trademarks recently renewed include those from companies from the United States, China, Japan, the UK and Germany.

Last year, the UAE was ranked first alongside Saudi Arabia in attracting key trademarks, according to a report, titled, "The Strongest 50 Trademarks in the Middle East 2019," issued by Brand Finance.

WAM/Rasha Abubaker/Tariq alfaham