A local study released by the Dubai Chamber of Commerce and Industry in the UAE revealed that authorities have embarked on a program to increase the county's foreign direct investment (FDI), especially outside of its free zones.
"UAE should be keen to attract more inward FDI flows that bring new technology and managerial expertise" the study asserted according to Gulf News.
The study also stressed that the legal framework was crucial to raising FDI levels, and that pragmatic policy measures including opening up of the economic sectors, currently off limits to foreign investment were necessary.
In addition, amending ownership and commercial laws restricting competition was also important.
"A move like this needs to review and develop the recent legal framework of the investment in the UAE," said Najeeb Al Shamssi, Director of Ras Al Khaimah Economic Department.
