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Tuesday, 24 November 2009 10:43 UAE time

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Abu Dhabi economy seen growing 4% in 2010

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Sunday, 08 November 2009
ECONOMIC GROWTH: Abu Dhabi's economy is predicted to expand by 4 percent in 2010.
ECONOMIC GROWTH: Abu Dhabi's economy is predicted to expand by 4 percent in 2010.

Abu Dhabi’s economy may grow by about 4 percent in 2010, compared with 3 percent this year, Mohammed Omar Abdullah, the undersecretary of the emirate’s Economic Development Department, said on Sunday.

The UAE capital plans to create export and business centres next year to facilitate trade and promote small and medium-sized businesses, Abdullah told reporters in Abu Dhabi.

Federal legislation regulating corporations may be passed by the end of the year, which would ease laws governing foreign ownership of businesses, he said.


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“The federal law doesn’t refer directly to 100 percent ownership,” he added.

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