Monday 6 April 2020

Dubai Chamber highlights advantages of UAE FDI law

DUBAI, February 19, 2020

Dubai Chamber of Commerce and Industry recently organised a workshop titled ‘Key Aspects of Foreign Direct Investment’, to help the private sector to understand the UAE FDI Law.

Organised in collaboration with international law firm Clyde & Co, the workshop raised awareness about the FDI Law and focused on other important issues like regulations on foreign ownership in the UAE, corporate structuring for foreign investors, economic substance, and fines for non-compliance, said a statement.

Conducted by Clyde & Co, Partners Benjamin Smith and Adrian Low, and Associate Katy Thomson, the workshop was attended by representatives from various sectors including lawyers, legal professionals, business owners, executives, experts in contracts and compliance, investors and general managers.

Jehad Kazim, director, Dubai Chamber’s Legal Services Department, said: “The UAE offers fertile ground for companies to grow and expand their operations to neighbouring markets.”

Kazim described the FDI Law as a game-changer in terms of providing a safe and stimulating environment for investors.

“The law covers various elements of interest to investors. It allows them to fully own their projects in specific sectors and provides clear information and data to guide their investment choices and decisions,” added Kazim, noting that the workshop organised by the chamber aimed to improve the private sector’s awareness of the law, its applications and provisions.

Benjamin Smith, corporate partner at Clyde & Co in Dubai, said: “We were delighted to collaborate with Dubai Chamber to organise this important workshop that highlighted significant recent legislative developments regarding the FDI Law, and corporate structuring.”

“These topics are of great interest to our clients and to companies operating in the UAE in general,” he said.

Dubai Chamber’s annual programme of activities includes organising training and awareness workshops that target the emirate’s business sector and cover the latest legal and regulatory developments that affect the corporate environment, it stated. – TradeArabia News Service


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