Dubai: The UAE is in the final stages of framing regulations on insolvency, foreign investment and arbitration, Dr Hadef Bin Jua'an Al Daheri, the UAE Minister of Justice, has told Gulf News.
Speaking ahead of the International Bar Association Annual Conference (IBA), which opened in Dubai yesterday, Al Daheri said that the UAE's legal environment has become a role model for the region.
"There are some laws that are under study and these include the arbitration law, the foreign investment law and the insolvency law, as well as others. These laws are in the final stages after being studied by the all the parties concerned like the Ministry of Finance and the Ministry of Economy, and we hope that all these laws will be officially implemented by the end of the year."
Upbeat mood
The IBA conference, hosted by the Dubai Chamber of Commerce and Industry and attended by more than 4,500 legal professionals, is being held for the first time in the Middle East.
Hamad Bu Amim, Director General of the Dubai Chamber of Commerce and Industry, was also upbeat. "Dubai's legal community is thriving and helping to support the development of business. [The IBA] will be a major benefit to the legal profession specifically and generally to the business community as a whole," he said.
Abdul Rahman Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, added: "The event offers a unique platform for the region's legal professionals to network with over 4,500 international counterparts in all areas of law. It is an important occasion which provides lawyers and law professionals the opportunity to exchange expertise and make new business contacts."
