
The UAE legislation, which is expected to pass in the first half of 2020, will address areas ranging from vessel ownership to dispute resolution
A total of 122 economic activities across 13 sectors were specified to be eligible for up to 100 percent foreign ownership including renewable energy, space, agriculture, and manufacturing industry.
The new rules essentially lifted a federal requirement that has long capped foreign ownership in local companies at 49%. The change frees the country’s seven emirates to open up their industries to foreign investors, many of whom demand full control over their operations.
Economic free zones sprang up across Dubai and much of the UAE as a way to satisfy foreign companies that couldn’t fully own businesses onshore.
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Source: Khaleej Times