In a dramatic revision to the decades-old Commercial Companies Law, which required an Emirati resident to be the dominant shareholder with 51% of the shares. And Ownership of business allowed foreign investors to control up to 49% of the shares. Dubai now welcomes foreign investors to fully own their mainland businesses.
Ownership of a business
The removal of limits on foreign investment ownership is the latest in a line of initiatives aimed at creating an economy. That, is responsive and agile as well as investor-centric and innovation-driven.
According to the World Bank’s Ease of Doing Business. Ownership of business Report for more than 15 years, with 3.4 million residents, 16.73 million tourists a4,114 km2 area, and a 0.5% unemployment rate. Dubai is the largest business metropolis in the United Arab Emirates.
It has set out on a path to change its business climate and become the top destination for investors globally with a futuristic mindset.
Dubai has earned its top spot as the top location for FDI. Thanks to its efforts to simplify regulations, foster innovation and digitization, offer world-class logistics and infrastructure. And develop human capital.
Dynamic and Resilient Economy
The strategic goals outlined by the government have made it possible for Dubai. Also, to become a diversified, investor-centric, and innovation-driven economy with the goal of making the city a dynamic engine of economic growth.
Dubai, which is one of the most appealing locations in the world to conduct business, is ranked first in employment growth. Second, in the rate of youth unemployment and employment, and eighth in the global economy’s diversity. Dubai’s exceptional economic performance and diversification have been powered by a stable macroeconomic environment. A sustainable economic policies, and excellent growth plans.
Innovation-incubating Smart City
Enables a culture of innovation and digitization that eventually becomes the first unicorn in the Middle East.
The Dubai government encourages innovation and digitization by enacting laws that benefit entrepreneurs, start-ups, incubators, and SMEs. But, to leverage the power of digital innovation, stakeholders including policymakers, businesses, academia, business. Also, the financial sector must come together under the umbrella of an entrepreneurial culture and a number of strategic projects.
Dubai has taken the lead in fostering a culture of innovation and digitization, as well as its ongoing adoption and implementation by industrial and commercial ecosystems.
Additionally, in terms of the amount of technology used, devoted cyber-security teams, scientific and technological employment, and internet users, Dubai comes in first. Also, Microsoft and Oracle have opened their regional cloud data centres in Dubai as evidence of this.
Institutional Strengthening
Dubai’s quick development is supported by an open, dependable, and flexible regulatory environment that acts as a foundation for expansion.
In especially in the areas that simplify the investment trip. Dubai’s governmental institutions competently, smoothly, and quickly enforce and monitor execution of the rules and policies. Due to these improvements, Dubai now ranks 9th in contract enforcement among 190 economies and 13th in protecting minority investors.
To guarantee economic growth in key industries and to provide a top-notch investor experience, policy is adapted to business requirements. However, this is supported by a collaborative approach to policy-making. Which, results in a variety of public-private partnerships and ensures that Dubai is an investor-friendly city focused on fostering profitable growth. And, safeguarding intellectual property.
Linking Worlds
Dubai is exceptionally fortunate to have a location that places it at the heart of the physical planet. Also, Dubai has capitalised on this advantage by offering quick access to important regional and international growth markets.
Moreover, It has established active portals into the area for business, commerce. And tourism with access to two-thirds of the world’s most attractive growth markets provided by ports. And, airports that are future-ready.
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