The United Arab Emirates government is reviewing a draft commercial law allowing full foreign ownership of some companies, according to an Abu Dhabi official.
“We recognize the importance of the foreign companies to have 100 percent ownership, but within specific rules and conditions,” Mohamed Omar Abdulla, undersecretary of the Abu Dhabi Department of Economic Development, said in an interview in Dubai today.
The measure applies to some industries outside of free zones, Abdulla said. The Abu Dhabi government and others within the U.A.E. are reviewing the draft, he said, without specifying when it will be passed. Foreigners make up about 90 percent of the nation’s 8.3 million population, according to 2010 government estimates.
No comments:
Post a Comment