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UAE launches investment guide
The UAE government has published a guide to investing in the emirates in an effort to attract more foreign money into the country.
The 165-page book was launched on Monday by Sheikha Lubna Al Qasimi, UAE Minister of Economy, who claimed it would provide a “one-stop information source” for business investors.
“We tried to provide comprehensive and accurate information, which honestly reflects the industrial economic reality and which will be a useful tool for companies and individuals wishing to invest in the UAE,” she said.
‘Investor’s Guide to the UAE’ includes information such as an outline of the country’s legal system, rules on how to set up a company and on foreign ownership, and a guide to doing business in each of the seven emirates, as well as detailing key industry sectors to invest in.
The book highlights oil and gas, manufacturing and industry, and tourism and real estate as the main industries for foreign investment.
Sheikha Lubna said the guide would be updated annually and that there were plans to translate it into other languages other than English.
Copies of the book will be distributed to foreign embassies in the UAE and will also be available to buy in stores, she said.
Foreign investment is a key part of the UAE’s plans for the future development of the country, and the more the country expands, the more investment will be needed to sustain its growth.
Abu Dhabi Securities Market (ADSM) is currently on an international roadshow to the UK and US in a bid to attract more foreign investors to trade on the exchange.
Dubai Financial Market (DFM) went on a similar roadshow to London earlier this year, and is planning to go to New York and the Far East later in the year, a spokesperson told ArabianBusiness.com.
A number of companies are accompanying ADSM on its tour, including Abu Dhabi National Energy Company (Taqa), which currently does not allow non-UAE nationals to invest in its stock.
Many UAE companies are now beginning to push for changes in the law to allow greater foreign investment – last week the chairman of telecoms operator Etisalat asked the government to lift a ban on foreign investment in its stock.
Net foreign direct investment (FDI) into the UAE last year was $12.8 billion, compared to $11 billion in 2005, and $9.2 billion the year before, according to International Monetary Fund (IMF) figures quoted by the Central Bank of the UAE.
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Comments 1-1 of 1
Posted by karl haddad, Dubai, UAE on 12 June 2007 at 09:07 UAE time
Sir/Mme,
From where and as of when can we get a hold of a copy of this.. or can we order it online?