UAE moves to attract investment

The government is moving ahead with its plans to make the country a prime destination for foreign investors at a time of global economic volatility.

The UAE Minister of Economy, Sultan Bin Saeed Al Mansouri, has said the government is planning to issue revised company, industry and investment laws. The aim of the revised laws - which are in the final stages of being approved - is to make it easier for foreign investors to do business in the country and provide maximum protection for their assets. In these troubled international times this is exactly what many foreign investors are looking for.

Another key development is the possible increasing of the cap on foreign investment and ownership of limited liability companies. Opening up the ownership of local companies is a proven way of increasing foreign investment - one of the keys to unlocking the growth potential of the economy. More emphasis is also being given to the drive to grow small and medium-sized enterprises, which create jobs and wealth in the economy.

The proposed revisions to the laws seek to build on the economic successes of the UAE, which has continued throughout the international crisis. This proven success is likely to be the greatest attraction of the UAE to foreign investors.