|
Free Zones Of UAE
- Abu Dhabi Airport Free Zone (ADAFZ)
- Abu Dhabi Ports Company (ADPC)
- Khalifa Industrial Zone Abu Dhabi (Kizad)
- Masdar City
- twofour54
- ZonesCorp
- Dubai Airport Freezone (DAFZ)
- Dubai Auto Zone (DAZ)
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Cars & Automotive Zone (DUCAMZ)
- Dubai Flower Centre (DFC)
- Dubai Gold and Diamond Park (DGDP)
- Dubai Healthcare City (DHCC)
- Dubai International Academic City (DIAC)
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village (DKV)
- Dubai Logistics City (DLC)
- Dubai Maritime City (DMC)
- Dubai Media City (DMC)
- Dubai Multi Commodity Centre (DMCC)
- Dubai Outsource Zone (DOZ)
- Dubai Silicon Oasis (DSO)
- Dubai Studio City (DSC)
- ENPARK
- International Media Production Zone (IMPZ)
- Intl. Humanitarian City (IHC)
- Jebel Ali Free Zone (JAFZA)
- TechnoPark (TP)
- Hamriyah Free Zone (HFZ)
- Sharjah Airport International Free Zone (SAIF-Zone)
- RAK Free Trade Zone Authority (RAKFTZ)
- RAK Investment Authority (RAKIA)
- RAK Maritime City (RAKMC)
- Fujairah Free Zone (FFZ)
- Ahmed Bin Rashid FZ (ABRFZ)
- Ajman Free Zone (AFZ)
|
|
UAE Freezones Biz News Updates
|
|
UAE moving towards allowing 100% foreign ownership of businesses outside
free zones
Plans for a law to allow full foreign ownership of companies outside free
zones in strategic sectors are at an advanced stage, the Minister of Economy
said.
At a the Annual Investment Meeting in Dubai on Monday, Sultan Al Mansouri
promised a new “law of Foreign Direct Investment that allows 100 per cent
ownership in some sectors outside free zones”.
The law is intended to encourage innovation and technology transfer. It will
likely require foreign companies that are granted 100 per cent ownership
rights to provide support or expertise to sectors identified by the
government as strategically important. It would only apply to some industry
sectors.
The Ministry of Economy declined to state which sectors would see a
relaxation of foreign ow nership restrictions, and did not say when the law
would be introduced.
A first draft of the law has been approved by a Ministry of Justice
committee, and the Cabinet. It will now be redrafted by the Ministry of
Justice, before it is sent to the Federal National Council and the Cabinet
for approval.
“It’s a strategy we believe could work and if this is implemented we suspect
the focus sectors would likely to be around social infrastructure, such as
education and healthcare, where there is a pressing need for greater foreign
investment,” said Murad Abida, regional head of corporate, at DLA Piper.
Mr Al Mansouri said that the forthcoming Companies Law and Commercial
Arbitration Law should also make the regulatory environment more friendly
for foreign investors.
Foreign direct investment inflows to the UAE increased by 25 per cent to $13
billion in 2014, up from $10.4bn the previous year, Mr Al Mansouri said. The
country was ranked 11th in last year’s AT Kearney Foreign Direct Investment
Confidence Index.
The UAE has traditionally been a net investor in foreign countries, due to
the sizeable holdings of its sovereign wealth fund, and considerable
financial reserves. Total outflows were equal to around $100bn last year, Mr
Al Mansouri said.
But the new FDI law is aimed at making the country more attractive to inward
investment, which the Ministry of Economy regards as important “to build an
economy that is based on knowledge, innovation and creativity”, Mr Al
Mansouri said.
Mr Al Mansouri also announced that the UAE had set itself two new economic
policy targets.
The country aims to reduce its dependence on oil revenues to below 10 per
cent of Gross National Product “in the upcoming years”, he said.
He also expressed a desire that the UAE should be among the top 10 countries
in the World Bank’s Ease of Doing Business Index. The country was ranked
22nd globally in the 2015 index.
“UAE government is strongly committed to removing bureaucratic hurdles that
face foreign investors,” Mr Al Mansouri said.
Mar 30, 2015
|
|
Courtesy The National
|
|
+UAE Freezones
|
Emirates Of UAE
- Abu Dhabi
- Dubai
- Sharjah
- Ajman
- Umm Al Quwain
- Ras Al Khaimah
- Fujairah
Business
- Search
- Trade centers in UAE
- Business in UAE
- How to Start a Business
- Incorporation Services
- Offshore Company
- Company Formation in the UAE
- No tax! - go for UAE free zones
UAE Offshore
- Jebel Ali Offshore
- RAK Offshore
|
Offshore Services |
|
Consultants For UAE Free Zones |
Utilities |
Keep in touch |
|
|
|
|
|
|
©. All rights reserved. | Terms and conditions | Privacy | Best view 1366 X 768 |