{"id":203560,"date":"2018-10-30T12:17:49","date_gmt":"2018-10-30T15:17:49","guid":{"rendered":"https:\/\/anba.com.br\/?p=203560"},"modified":"2018-11-01T20:00:07","modified_gmt":"2018-11-01T23:00:07","slug":"uae-to-create-foreign-investment-department","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/uae-to-create-foreign-investment-department\/","title":{"rendered":"UAE to create foreign investment department"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 Khalifa bin Zayed Al Nahyan, president of the United Arab Emirates, issued a decree to create a department, within the Ministry of Economy, to manage foreign direct investments (FDIs). The decision was published in the country\u2019s Official Gazette.<\/p>\n<p>According to the website <em>Gulf Business<\/em>, the decision has been taken while the United Arab Emirates are getting ready to allow foreign investors to hold 100% ownership in some sectors until the end of this year.<\/p>\n<p>The department within the Ministry of Economy will be responsible for proposing policies in the area and setting priorities, planning and programs. It will also create a database of ongoing FDI investments and projects and help turn the business environment investment-friendly, facilitating project registrations and licensing.<\/p>\n<p>One of the concerns of UAE nationals is for the law allowing 100% foreign ownership to affect existing businesses. The new norms haven\u2019t been fully disclosed yet. Currently, foreign ownership is allowed up to 49%, with the exception being the free trade zones.<\/p>\n<p>The Department of Economic Development (DED) reported earlier this month that 100% foreign ownership will only be allowed in strategic sectors. \u201cWe are targeting strategic, impactful businesses which will leave their fingerprints on the economy and create a meaningful impact on jobs, technology, and boost imports and exports,\u201d said Fahad Al Gergawi, CEO of the Dubai Investment Development Agency (Dubai FDI).<\/p>\n<p><strong>Translated by S\u00e9rgio Kakitani <\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-203558\">Fraser Hall\/Roberto Harding\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The president issued a decree that establishes a foreign investment department within the Ministry of Finance. The country is getting ready to open up some sectors to 100% foreign ownership this year.<\/p>\n","protected":false},"author":2316,"featured_media":203558,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[139,23864,3901,5828,5829,3902,228],"class_list":{"0":"post-203560","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-dubai","9":"tag-emirados-en-2","10":"tag-fdi","11":"tag-foreign-direct-investment-in-dubai","12":"tag-foreign-direct-investments-law","13":"tag-foreign-investments","14":"tag-uae"},"wps_subtitle":"The president issued a decree that establishes a foreign investment department within the Ministry of Finance. The country is getting ready to open up some sectors to 100% foreign ownership this year.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/203560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=203560"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/203560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/203558"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=203560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=203560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=203560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}