- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:31 05:49 12:21 15:48 18:47 20:05
The DIFC. The UAE's financial sector is identified as full of potential in the UAE Investment Map (File)
The UAE has no plans to raise the 49 per cent foreign ownership limit for listed firms, a senior economy ministry official, says Reuters.
"The companies law, the new one, will maintain the same percentage in terms of ownership," Mohammed Al Shihhi, undersecretary at the Economy Ministry told reporters.
"We have the free zones with 100 per cent ownership. At the moment there is no plan to change that," he said on the sidelines of an investment conference.
Al Shehhi on Monday announced the launch of UAE Investment Map to promote sustainable and balanced development of the country, Wam said.
Al Shehhi said the initiative will promote sustainable and balanced development of the UAE, and contribute to GDP growth by stimulating the investment environment and attracting investment and technology that drive the knowledge economy in addition to reducing the dependence on oil by diversifying revenue streams.
Al Shehhi said the initiative will serve as an indicator to guide global investors and introduce them to the various investment opportunities across all sectors of the UAE economy through a systematic and scientific approach.
Al Shehhi said the UAE Investment Map will provide an overview of the investment opportunities in each emirate in health, agriculture, real estate, alternative energy, SMEs, services, industry, education, and finance, among others sectors.
In the first phase, the initiative aims to target markets such as Argentina, Brazil, Turkey, Germany, India, China and South Korea.
The areas that fall within the investment map also include: aluminum industry, automotive, aviation, information technology, telecommunications, financial services, electronics, engineering and industrial technology, healthcare, petrochemical industry, education and knowledge industry, and the pharmaceutical industry.
"In November, the UAE Investment Map will be officially launched during the UAE's Investment Map conference, alongside a specialised exhibition to introduce government services to key international investors," he concluded.
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