Investment law revamp to raise foreign funds inflow

The UAE said yesterday it is pushing ahead with plans to improve investment laws in anticipation of massive capital flow into the country.

Minister of Economy Sultan Al Mansouri said the UAE has already become one of the most attractive destinations for international investors but a sharp growth in its economy and global changes require revised investment legislations.

Addressing the UAE-Spain business forum in Abu Dhabi, Mansouri said the new legislations are vital for the economic diversification programmes and such a policy has started to pay off in terms of an increase in the non-oil sector's contribution.