UAE to approve law allowing 100% foreign ownership of companies by year-end
By Gulf Business
The UAE is expected to approve a new investment law allowing 100 per cent foreign ownership in some sectors by year-end, a government official has said.
Economy minister Sultan Al Mansoori confirmed the plans in an interview with The National.
The new law, which will liberalise sectors selected by the government including manufacturing and the service industries, is expected to boost foreign investment inflows by up to 15 per cent, he said.
“It will be this year, I can assure you, the latest will be Q4,” Al Mansoori was quoted as saying. “I am optimistic, it is critical that we finish the investment law this year.”