A new era of growth: Investment community hails UAE’s 100% foreign ownership move

  • Date: 26-Nov-2020
  • Source: Zawya
  • Sector:Economy
  • Country:UAE
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A new era of growth: Investment community hails UAE’s 100% foreign ownership move

“This initiative was already planned and its implementation is welcomed by the investment community in the region. It offers great flexibility for additional foreign direct investments in the UAE in many sectors. In addition to attracting new companies and new capital, it will also attract new talents from around the world," Christophe Lalandre, Lombard Odier's Senior Executive Officer for Abu Dhabi told Zawya.MUFG's Ehsan Khoman, Head of MENA Research and Strategy, said: "These amendments to ownership laws will not only enhance the business landscape, but also create significant growth prospects by attracting more FDI flows."UAE now belongs to the world's 20 top economies for FDI. In its bid to diversify away from the oil trade, the emirate has been focusing on targeted efforts to draw investments.The 100 percent foreign ownership in more than 120 economic activities across 13 key sectors will help in increasing FDI. The top 25 list of the 2020 Kearney FDI Confidence Index was dominated by developed markets this year, with the UAE being one of three developing economies to make the cut alongside China and Brazil."The new provisions will further add to the UAE's robust business operating environment, first-rate infrastructure and well-diversified economy, which will continue to