UAE set for rush of companies wanting to set up shop - The National

The UAE is bracing for a flood of interest from GCC companies after a recent rule change allowing them to set up branches in the country more easily, says a senior Ministry of Finance official.

Now other states need to do the same to make it easier for UAE firms to become established across the Gulf under common market laws, said Khalid Al Bustani, the assistant undersecretary for international financial relations at the Ministry of Finance.

"We are sure more investors from the GCC will be coming to the UAE this year," he said. "One reason is the normal economic growth and the other is the change of legislation to make it easier for GCC companies to open branches in the UAE."

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