The subsidy policy of the Government of the United Arab Emirates is an important part of the government's industrialization strategy. The government requires defense contractors to invest at least 60% of the import contracts in joint ventures in the UAE. As a result, this has opened up a company that sells high-tech and service to the UAE and has more long-term value than technology transfer to thrive local industries. This policy has been applied to the petrochemical industry and has achieved remarkable success. In addition to the government's open economic policy, as a member of the WTO, WIPO and the Paris Agreement on the Protection of Industrial Resources, the UAE has taken steps to improve the business environment in the UAE. For example, updating the National Commercial Law Outline; introducing commercial transaction law, commercial company law, intellectual property protection law and copyright law into this field. The UAE has also taken other measures to ease trade and investment. Some financial regulations and developments have also been liberalized. The establishment of official stock exchanges has enabled the growing number of UAE companies to easily raise funds from the public. The outline of government policy remains to increase the participation of private companies in all areas of sustainable development in all areas of the United Arab Emirates.
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