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1 September, 2019

UAE Opens Golden Gates for Foreign Investment

The approval of the UAE Cabinet on 2nd of July 2019 under the chairmanship of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai, to allow foreigners to own up to 100% stakes in companies operating in 122 economic activities, The new rules abolish the condition that has long limited the ownership of foreigners in companies by 49%, pointing out that the new measure liberalizes and enhances the investment environment, and will be a decisive step in the development of new sectors and industries. Access to new economic sectors Ash in technology, confirming the foremost position of the UAE in the Arab and Middle Eastern countries, and among the leading countries globally.

Officials and the business community stated that the adoption of these decisions contributes to accelerating investment in the non-oil economy, which is moving in the right direction towards further growth in the light of continued confidence in the national business environment, pointing out that this stimulus decisions drive towards economic diversification and create more opportunities Investment, especially in the sectors of e-commerce, health care, retail, and other non-oil sectors.

Source: Albayan

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