U.A.E. to Allow Full Foreign Ownership in Some Sectors

(Bloomberg) --

The United Arab Emirates will allow full foreign ownership in 122 economic activities in the industrial, agricultural and services sectors.

“We have the flexibility to keep up with the economic developments and changes around the world,” Prime Minister Sheikh Mohammed Bin Rashid Al Maktoum was cited as saying by state-run WAM.

U.A.E. Ditches Foreign Ownership Rules as Economy Feels Pain

Examples of activities and sectors:

• Industrial sector -- 51 activities, including:
  • manufacturing food and drinks products
  • aircraft repair
• Services sector -- 52 activities, including:
  • scientific research and development
• Agricultural sector -- 19 activities, including:
  • cultivation of grains

To contact the reporter on this story: Farah Elbahrawy in Dubai at felbahrawy@bloomberg.net

To contact the editors responsible for this story: Claudia Maedler at cmaedler@bloomberg.net, Abbas Al Lawati

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