UAE to open 122 economic activities for full ownership of Al Fajr website on Tuesday, July 2, 2019.
UAE Vice President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum announced on Tuesday that 122 economic activities will be available for investment and full ownership of foreigners.
Sheikh Mohammed bin Rashid said in a tweet: "I chaired a meeting of the Council of Ministers in Abu Dhabi, during which we adopted the opening of 122 economic activity in the state to own up to 100 percent for foreigners."
Some sectors that will be 100 percent open to foreign investors are sectors such as agriculture, manufacturing, renewable energy, e-commerce, transport, arts, construction and entertainment.
"Local governments will determine the percentage of ownership of each activity according to different variables and circumstances" he said.
"Our aim is to stimulate, activate and facilitate; we want to open and expand new economic sectors, and we want to attract new investors, new talents and new blood to establish global competitiveness for our national economy," Sheikh Mohammed said.