New law on foreign ownership to be ready soon
15 September 2009
The Council of Ministers is in the process of passing a draft law which will allow foreign investors to hold 100% of their businesses in the industrial sector, as announced by Economy Minister Sultan Bin said al Mansuri, adding that the government is also evaluating the possibility of raising the 49% ceiling in other sectors.
"The law allowing 100% foreign ownership is ready, but is still open to slight modification. However, it will be brought in within the next two months," stressed Al Mansuri. No indication was given as to raising the limit for the purchase of shares in private companies.
Source: Ansamed