Monday, Dec 05, 2011
0629 GMT [Zawya Dow Jones]--The passing and implementation of the planned U.A.E. companies law to improve the business environment is seen as vital in cementing Dubai's position as a regional hub, which has benefited this year from the regional political developments, says EFG Hermes. "The number of new companies being registered has increased, which we believe is largely as a result of regional companies setting up a 'safe haven' commercial entity." Notes, in the U.A.E., while it's relatively easy to set up a company in a Free Trade Zone, procedures outside the FTZs are more difficult. "Other GCC countries, notably Saudi Arabia, have made important strides in improving the ease of doing business in the wider economy and not specified areas." Says, along with the companies law, it sees a bankruptcy law and legislation related to the real estate sector as being vital in improving the U.A.E.'s investment environment. (nikhil.lohade@dowjones.com)
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(END) Dow Jones Newswires
05-12-11 0629GMT
