UAE sets up special unit to lure foreign investors

The UAE announced Tuesday (October 30th) the establishment of a special unit at the economy ministry to help lure foreign investors amid an economic slowdown, AFP reported.

The establishment of the foreign direct investment unit was ordered by President Sheikh Khalifa bin Zayed Al-Nahyan in a decree.

The order stipulates that foreign investment firms which secure licenses under the decree will be treated like national companies, significantly cutting back red tape.

Last year the UAE attracted more than $10 billion in foreign direct investment, continuing a trend in recent years of having the largest FDI inflows among all Arab states.

Do you like this article?

0 Comment(s)

Comment Policy * Denotes Required Field 1500 / 1500