"Economy" is developing a strategy to increase its polarization during the next stage

52% growth in the number of branches of foreign companies in the UAE within 10 years

«Economy»: British companies came at the forefront of foreign companies in terms of the number of their branches registered in the country.

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The Ministry of Economy reported that the number of foreign companies that own licensed branches in the country has achieved over the past 10 years, from 2011 to 2020, a growth of 52%, and the total number of branches of foreign companies operating in the country until the end of last year reached 2,577 registered and licensed with The Ministry of Economy, which belongs to more than 114 nationalities.

British companies came at the forefront of foreign companies in terms of the number of their branches registered in the country, with a rate of 11.6% of the total of these companies, followed by American companies with 8.3%, then Indian companies by 5.5%, then South Korean companies by 5.1%, followed by French companies by 4% .

Economy Minister Abdullah bin Touq Al-Marri said, "The growth in the number of foreign companies during the past decade represents a practical translation of the continuous efforts made by the state, with the support and directives of its wise leadership, to provide an attractive business environment for foreign companies, and to attract foreign direct investment, through the continuous development of frameworks. Legislative and regulatory supportive of economic activity, facilitation of doing business in the country, reducing its cost, developing infrastructure and digital services for business activities, and providing incentives and facilities that enhance its success. He stressed that "the increasing growth in the number of foreign companies operating in the country reflects the confidence of the global business community in its investment environment, and confirms the soundness of the approach adopted by the UAE, by providing an open and flexible economic environment."

He pointed out that the recent amendments recently approved by the UAE government to the Commercial Companies Law, which allowed 100% foreign ownership of companies and projects in all sectors, with the exception of some limited activities with strategic impact, and exempting branches of foreign companies from the requirement of a citizen agent, represents a new incentive, It contributes to increasing the attraction of regional and international companies to work from the UAE, and enhancing and diversifying foreign investment flows into the country during the next stage, especially in the sectors of the new economy.He explained that «the Ministry is continuing its efforts to develop an integrated strategy to increase the attraction of companies and foreign investments to the targeted sectors in the country, through multiple paths, including developing services provided to investors, preparing a promotional and introductory plan for the investment environment, and developing a database of incentives, benefits, opportunities and projects in the country, to be reviewed. In economic activities with partner countries and international companies. In addition, the country achieved a growth in the volume of incoming investments, as it ranked first in the Arab world and 15th globally, in terms of its ability to attract foreign direct investment, according to the latest UNCTAD report, and it attracted foreign direct investments with a value of up to $20 billion. (73.4 billion dirhams) in 2020, achieving a growth rate of 11.24% from 2019, accounting for 49% of the total foreign direct investment flowing to the group of Arab countries.In addition, the country achieved a growth in the volume of incoming investments, as it ranked first in the Arab world and 15th globally, in terms of its ability to attract foreign direct investment, according to the latest UNCTAD report, and it attracted foreign direct investments with a value of up to $20 billion. (73.4 billion dirhams) in 2020, achieving a growth rate of 11.24% from 2019, accounting for 49% of the total foreign direct investment flowing to the group of Arab countries.In addition, the country achieved a growth in the volume of incoming investments, as it ranked first in the Arab world and 15th globally, in terms of its ability to attract foreign direct investment, according to the latest UNCTAD report, and it attracted foreign direct investments with a value of up to $20 billion. (73.4 billion dirhams) in 2020, achieving a growth rate of 11.24% from 2019, accounting for 49% of the total foreign direct investment flowing to the group of Arab countries.

Excellent business environment

The Ministry of Economy confirmed that the UAE has become a regional and global center for emerging companies and innovative projects, and the UAE has many success stories for foreign companies that started outside the country, but expanded from them to reach the world, and others for companies that started in the Emirates and reached the world, such as: (SWVL) company. For smart solutions for mass transit, which was founded by a young Arab in Dubai in 2017, and took it to the world, as it was listed on the Nasdaq Stock Exchange with a value of more than $ 1.5 billion, as well as the site “Souq.com” that started in Jordan, developed in the UAE, and was sold in In 2017, to Amazon, and Careem for delivery services, which started in the UAE, and was sold to Uber in 2020, and currently provides its services to 14 countries, and Aramex, which started in Jordan and developed in the UAE, and currently provides its services to 58 nation.

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