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Dubai may relax investment rules
- United Arab Emirates: Monday, January 28 - 2013 at 05:23
Dubai is considering allowing GCC nationals to set up joint ventures with non-Gulf foreigners, Reuters has reported. The emirate's Department of Economic Development said it has formed a committee to study applications from nationals of the GCC and will evaluate them based on how valuable the projects are to Dubai's economy. Currently, foreign investors in Dubai and the larger UAE can hold only minority stakes in companies and must have a local partner, except for free zones where 100% foreign ownership is allowed.
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