UAE Economic Activities to have 100 % foreign ownership
The UAE Cabinet has given its approval for 100% ownership on the different economic activities and sectors ranging from renewable energy, agriculture, space and the manufacturing sector. This decision was welcomed by majority of investors towards an option for acquisition of stocks and shares for economic activities. These activities include power transformers, solar panels, green technology and power plants that are hybrid.
Foreign ownership will be inclusive of storage and transport where it will give a wide array of sectors like the food services, e-commerce, supply chain and logistics as well. The Cabinet’s decision has been implemented for over 122 activities and 13 sectors. It is intended to encourage and expand the sector and attract investments on a global spectrum.