She confirmed that the UAE possesses the capabilities to establish businesses and establish projects

Dubai Tourism: 100% foreign ownership of companies contributes to stimulating investment

Hilal Saeed Al-Marri: "The amendments will attract businessmen to establish a base for their business in the emirate, as a platform for launching to other markets."

The Department of Tourism and Commerce Marketing in Dubai (Dubai Tourism) said that the recent amendments to the Commercial Companies Law in the UAE, allowing 100% foreign ownership of companies, will greatly contribute to motivating investors to establish new projects in various emirates of the country, noting that Dubai owns A lot of tourism potentials and distinctive projects in the hospitality sector, and that these amendments will attract the attention of businessmen of various nationalities.

In detail, the Director General of the Department of Tourism and Commerce Marketing in Dubai, Hilal Saeed Al-Marri, said: “Our leadership, under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is keen to create an investment environment and enact appropriate legislation to attract investors of various nationalities. , As well as motivating them to establish projects that contribute to the sustainable development of the state, in addition to overcoming all difficulties, removing obstacles, and simplifying procedures that contribute to advancing the economy ».

Al-Marri added to Emirates Today that “The UAE in general, and Dubai in particular, has a lot of potentials as well as investment opportunities that are capable of attracting investors to establish businesses and establish projects.

The recent amendments to the Commercial Companies Law in the UAE, including the reorganization of the provisions for the establishment of limited liability and shareholding companies, which exempt them from a minimum percentage of the ownership of Emirati citizens, are in this context, allowing foreigners to establish and own companies 100%, and will contribute significantly to stimulating Investors to establish new projects in various emirates of the country.

He pointed out that Dubai possesses many tourist potentials and distinctive projects in the hospitality sector, and that these amendments to the law will attract the attention of businessmen of various nationalities, and establish a base for their business in the emirate as a platform to launch to other markets in the region, explaining that the tourism sector is one of the sectors that contribute By a significant percentage of the GDP of the Dubai economy.

Follow our latest local and sports news, and the latest political and economic developments via Google news