July 4 2019
On 27 June 2019, the UAE Cabinet published a decision listing activities eligible for up to 100% foreign ownership in the UAE. A total of 122 economic activities across 13 sectors were specified to be eligible for up to 100% foreign ownership including agriculture, manufacturing, renewable energy, e-commerce, transportation, arts, construction and entertainment. The decision also provides investors with an opportunity to acquire various shares in a number of economic activities including the production of solar panels, power transformers, green technology and hybrid power plants. The decision also provides that foreign ownership will be allowed in sectors such as:
- transport and storage: including e-commerce transport, supply chain, logistics and cold storage for pharmaceutical products;
- hospitality and food services;
- information and communications; and
- scientific and technical activities including laboratories for research and development in biotechnology.