News

UAE to detail investment law changes

Gavel_lawbooksLawmakers in the UAE are set to announce more details on the changes to investment rules including which sectors will allow 100% foreign ownership of onshore businesses. Expectations that the new rules will herald an economic boost are high. Analysts have forecast that FDI will grow by 15-20% now that the law has come into effect while there are also expected to be increases in jobs for nationals and a boost to the non-oil economy. The amendments to article 10 of the UAE Commercial Companies Law were issued in October, 2018. The central change is that 100% foreign ownership will be allowed for onshore businesses in selected sectors. UAE ministers are set to announce which sectors will be eligible before the end of the first quarter of 2019. The minister of economy Sultan Al Mansouri has suggested that technology, aerospace, renewable energy and artificial intelligence will be among the chosen markets. Meanwhile law firm Clyde & Co has stated that UAE authorities will also announce 14 sectors to which the 100% foreign ownership will not be allowed. These include oil exploration, military, insurance, banking and finance and telecommunications. ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.