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The upcoming release of UAE Investment Law by the end of this year is expected to boost the UAE’s Gross Domestic Product (GDP) between three to four per cent, according to Sultan Al Mansouri, UAE Minister of Economy.
On the sidelines of the Annual Investment Meeting 2014, Al Mansouri told Gulf News that the new law will enhance the overall investment and business environment across the UAE.
“Major changes have been made in the new version of the Investment Law which will help the UAE markets become more favourable for foreign investments in most non-oil sectors, especially tourism, real estate and financial sectors,? Al Mansouri said.
To boost the overall business environment, the UAE government intends to upgrade its legal infrastructure by revising tens of laws and regulations including a company law, an investment law, a bankruptcy law, a competitiveness law, an arbitration Law, and an intellectual property law, among others.