UAE launches sweeping law reform to attract investors

UAE launches sweeping law reform to attract investors

In the United Arab Emirates, President Khalifa bin Zayed Al Nahyane announced the adoption of more than 40 laws on Saturday, November 27. It is the largest legislative reform in its history.

With our correspondent in Dubai, Nicolas keraudren

Some of the laws had already been announced this year, but had yet to be enacted. According to a statement from the official press agency, they aim to “ strengthen economic opportunities […] and maximize social stability “.

Among the 40 or so measures adopted by the UAE authorities, one law in particular focuses on social issues. This text, which will come into force on January 2, 2022, aims to better ” protect women, domestic workers and public safety », Specifies a press release from the official agency.

Reforms to be more attractive than Saudi Arabia

Beyond the social aspects, many economic measures have also been adopted, in particular to facilitate administrative procedures. These reforms aim to attract new talent as well as foreign investment in the country.

Because in recent months and as the end of the oil era approaches, competition between the United Arab Emirates and neighboring Saudi Arabia has intensified. A real race for economic diversification has therefore been launched between the two Gulf allies even if the UAE monarchy remains ahead on this point.

This month, the emirate of Abu Dhabi, home of the country’s federal capital, had already announced its own reforms. These provide for a full-fledged civilian regime for non-Muslims.

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