- The UAE cabinet board has picked a complete set of 122 economic activities across 13 sectors to supply 100 percent foreign possession opportunities.
- The UAE cabinet, chaired by Sheik Muhammad bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of UAE, has approved the sectors and economic activities eligible for up to 100% foreign possession, rights, and ownership.
- The decision aims to support the expansion setting environment and to affirm UAE’s position on the worldwide arena as a hub for investment, as stated by news organization WAM reported recently.
A total of 122 economic activities across 13 sectors were made eligible for owning up to 100 percent foreign possession together with renewable energy, space, agriculture, and trade as well as manufacturing industries.
WAM stated that the decision choice provides investors with a chance to amass numerous shares during a range of economic activities together with the assembly of solar panels, power transformers, Green technology, and hybrid power plants.
Areas of foreign possession conjointly embody transport and storage that permits investors to have their own vested projects within the field of e-commerce transport, supply chain, logistics, and cold storage for pharmaceutical merchandise.
The Cabinet’s call conjointly includes hospitality sector and food services, info and communications, and as well skilled, scientific and technical activities, thereby letting possession in laboratories for analysis, research, and development in biotechnology, body services, support services, academic and administrative events, healthcare, art and entertainment, and construction.
Local governments can confirm the possession (Ownership) share of foreign investors in these activities, WAM added further to the point.
Thus, UAE is leaving no stone unturned to be the number one in any portfolios viz. banking, and non-oil private sector, technology, etc. and thereby emerge as the most powerful as well the most benign economic region comparatively to other global Emerging Players.