Sheikh Mohammed announces plan to open up a total of 122 economic activities to 100% foreign ownership
The UAE will allow full foreign ownership in 122 economic activities in the industrial, agricultural and services sectors.
“We have the flexibility to keep up with the economic developments and changes around the world,” said Sheikh Mohammed Bin Rashid Al Maktoum, the UAE's Prime Minister and Vice President and Dubai Ruler in comments published by state news agency WAM.
In the industrial sector, 51 activities will be included such as manufacturing food and drinks products and aircraft repair.
In the services sector, 52 activities will allow full foreign ownership including scientific research and development while the agricultural sector will include 19 activities such as the cultivation of grains.