The UAE has completed the drafting of a long-awaited law that could allow foreign investors to have 100 per cent ownership in some projects and is awaiting final approval before it is enforced this year, the country’s minister of economy said in remarks published on Sunday.
Sultan bin Saeed al Mansouri also told the Arabic language daily 'Al Khaleej' the UAE had overcome more than “95 per cent” of the effects of the 2008 global fiscal distress and is set to become stronger than before the crisis.
Asked about the UAE’s investments in some Arab countries hit by the current political turmoil, the minister said the government had received assurances for protection from those countries in line with signed accords.
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