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Investment Opportunities In Dubai

March 29, 2008 |

Every country dreams to become the hub of foreign investors and for this it creates various laws. These laws are known as foreign investment laws. They are created to establish certain rules that will foreign exchange from abroad and will allow easy, free and better flow of foreign capital. The law is also created to protect the right and the property of all the foreign investors of the country.

How does this Law help the country?

It helps in getting foreign capital to flow into the country. It protects the rights of the foreign investors and thus, they feel safer and welcome to invest in the country. Therefore, they bring their intelligent ideas for the growth of business and the infrastructure in the country. Thereby, they contribute to the total development of the nation and the economy.

What is the foreign investment law in UAE?

In UAE, the law is in the early stages and it will be totally ready in the year 2008. That is what the UAE Ministry of Economy hopes to accomplish this year. Once this law comes into total force, it will provide the best opportunities in Dubai for all investors from abroad.

What are the steps taken in UAE to draft an effective Law?

The federal government has set up a committee that will draft the investment law for the nation. This committee comprises of various officials from different ministries like economy, finance and industry. Also, some 35 representative business firms have their own people also on the committee. These firms are from both public and private sectors. All of these people are contributing towards an effective law for the country.

Why is there so much delay?

The laws related to this is like land ownership, formation of companies and so on are with different emirates. Each emirate has its own standards for generating revenues from abroad. This is the reason why so much time is being consumed in drafting this law in UAE.

Sheikh Lubna Al Qasimi, the UAE minister of Economy, is playing a very active role in promoting the flow of that into UAE. He is also very keen on creating an effective and efficient legal sanctum for the county.

In the first National Investment Reform Workshop that was held in UAE in late December, he said that he wants the UAE law to be a “one stop “legal reference point for any foreigner who desires to invest in his country. The law will not only promote the inflow of foreign revenue but will also regulate the foreign direct investment into UAE. The entire world is waiting with bated breadth for this law to come into force soon.

http://www.aboutdubai.org

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