UAE to include 10 new sectors under its Commercial Companies Law | The National
The UAE is working on a legislation to include 10 new sectors under its commercial companies law, which allows for 100 per cent ownership of onshore entities in the country, a senior government official.
The legislation will enable investors and businesses in 10 new sectors of strategic importance to come under the purview of the law, undersecretary of the Ministry of Economy for Foreign Trade and Industry Abdullah Al Saleh said.
He was speaking at the Sharjah Economic Ramadan Majlis organised by the Sharjah Investment and Development Authority (Shurooq), according to a statement on Saturday.
"Chemical, petrochemical, pharmaceutical, defence and heavy industries; the national food and healthcare security industries; and industries of the future, including space and renewable energy among others" will be added to the law, said Omar Al Suwaidi, undersecretary of the ministry of industry and advanced technology, said.
