Macroeconomic Forecast UAE

In early December, the government of the UAE granted approval to a draft law allowing foreign companies to acquire a more than 49% stake in local companies. This move is aimed at attracting more investments to diversify the economy. Foreign companies are presently allowed to hold a maximum 49% stake, and foreigners are required to have a UAE national or partner to conduct business. Over the long term, the decision should help the government's efforts at diversifying the economy away from the hydrocarbon sector, helping to ensure a more sustainable growth pattern.

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