Daijiworld Media Network (SR)
Dubai, Jul 2: In another historic announcement, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai on Tuesday tweeted that the UAE has offered 100 per cent foreign ownership in 122 economic sectors.
His Highness tweeted "Today, I chaired a session of the Council of Ministers in Abu Dhabi, during which we adopted a resolution allowing 100 per cent foreign ownership in UAE's 122 economic sectors - giving foreigners 100 per cent ownership of their investment. Sectors include agriculture, manufacturing, renewable energy, e-commerce, transportation, arts, construction, entertainment among others."
"Local governments will determine the percentage of ownership in each activity according to their economic environment. Our goal is to stimulate, activate and facilitate economic activity. We want to open and expand new economic sectors, attract new investors, talent and new blood.”
"We want to consolidate the global competitiveness of our national economy," he added, as per Khaleej Times report.