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Home » News

Abu Dhabi To Give More Control To Foreign Businesses

By Rob Morris on February 23, 2010 – 4:15 pm

Expatriates with business interests in Abu Dhabi to be given greater control.

Abu Dhabi government is hoping to encourage foreign investment into the emirate by relaxing ownership rules, it has been reported.

The ruling was prompted by outside investors calling for more control over business decisions affecting their companies in the UAE. At present, 51% of any foreign business is owned by an Emirati.

During this week’s Abu Dhabi Economic Forum, government figure Mohammed Omar Abdulla said a new law would be introduced to give owners of non-UAE companies greater influence

But the Undersecretary of the Department of Economic Development gave no details about changes in ownership percentages or when the rule would come into effect, a UAE newspaper reported.

Government spending on infrastructure-related projects would continue in 2010, with particular focus on education and healthcare.

“The government has set out its road map for economic growth in the shape of the ‘Economic Vision 2030′ that has comprehensively spelled out priorities, growth targets as broader guidelines,” Abdulla was quoted as saying.

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