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Abu Dhabi announces activities open to foreign ownership

by May 22, 2021Arab Economy0 comments

  • 1,105 commercial and industrial activities are listed
  • Existing companies can change status

ABU DHABI: The Abu Dhabi Department of Economic Development (ADDED) has announced a list of 1,105 registered commercial and industrial activities that are open to ownership by natural and legal non-citizens, WAM reported.

This enables them to fully or partially own commercial companies to practice these activities in Abu Dhabi.

The list includes a broad range of activities from manufacturing to equipment rental and photography to running a zoo.

“This announcement reflects the keenness of the Abu Dhabi Government to attract further foreign direct investments and to promote an open and resilient competitive business environment,” said ADDED Chairman Mohamed Ali Al Shorafa. “The decision is one of many decisions and initiatives to provide incentives for the private sector in Abu Dhabi and to enhance the status of Abu Dhabi on the global investment map.”

The list of activities available for foreign ownership was decided by the Council of Ministers according to what would have the biggest strategic impact.

Existing companies have the right to adjust their status, provided they comply with the regulations on activities or other applicable restrictions, in accordance with ADDED-adopted procedures.

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