Wednesday, Nov 02, 2011
BEIRUT (Zawya Dow Jones)--The United Arab Emirates has completed the drafting of a new company law that will allow foreign investors to have full or nearly full ownership of their enterprises in the Gulf state, pan-Arab Al Hayat daily reports Wednesday citing Sultan Bin Saeed Al Mansouri, the country's minister of economy.
The existing law requires foreign investors, who establish projects outside the country's free zones, to have a local partner with a stake of at least 51%, the paper reports.
Newspaper website: http://international.daralhayat.com/internationalarticle/324773
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
02-11-11 0727GMT
