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Abu Dhabi lists 1,105 'activities' open for 100% foreign ownership

Friday, 21 May 2021 13:21

By ARN News Centre

WAM

Abu Dhabi has listed out 1,105 registered commercial and industrial activities open for 100% foreign ownership.

The announcement from Abu Dhabi Department of Economic Development (ADDED) is in line with the recent amendment of the Commercial Companies Law.

The list, which is available on their official website, reflects "the keenness of the Abu Dhabi Government to attract further foreign direct investments and to promote an open and resilient competitive business environment," Mohamed Ali Al Shorafa, Chairman of ADDED, highlighted.

Owners of existing companies can adjust their status, provided they "comply with the regulations on activities or other applicable restrictions".

He added that it's "one of many decisions and initiatives to provide incentives for the private sector and to enhance the status of Abu Dhabi on the global investment map".

The Department also provides incentives and implements initiatives that helps to increase the success rates of these enterprises, and maintain their continuity in support of their sustainable growth and expansion.

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