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Dubai economy expects 35% growth in foreign investments due to law reforms

DUBAI: Dubai’s economy is expecting a 35 percent growth in foreign investment due to recent reforms in the UAE’s Commercial Companies Law, according to the Director-General of Dubai Economy, Sami Al-Qamzi.

The recent amendments will have a far-reaching impact on the flow and quality of foreign and domestic investments as well as overall economic growth of the country, Al-Qamzi said. The reforms – which came into effect at the start of this month – allow foreign nationals 100 percent ownership of commercial companies within the country.

News source ~ Arab News