Dubai will continue promoting investment opportunities

Press Release March /2006

Dubai will continue promoting international investment opportunities


According to ‘Feisal Hammude Senior Board Member of Salam Ogilvy Consultants’, investment opportunities will continue to grow and increase in the UAE. As a principle at the time who headed a prominent Intl consulting company in the region, he also points out to the anticipated changes in the Federal Company Law as further indication of the country’s liberal economy. Hammude speaking to us from this years Strategic marketing Exhibition seminar as a keynote speaker claims that factors including a flexible fiscal regime, free zone set-ups and a stable business minded government had contributed to the country’s position as a region that is on the forefront for international investment opportunities. He added that in the UAE, we have a government which has recognized the duties and responsibilities that a private sector can contribute in driving forward infrastructure growth. As a result the number of joint ventures between private and public sector projects are rising dramatically.
‘Hammude’ points out that expected amendments to the country’s Company Law, which currently restricts non-free zone foreign ownership to 49 percent but could rise to 100 percent will result in a more beneficial business environment to foreign companies. The changes are expected to be implemented by Q2. As his current duties are representing one of the regions largest steel tube producers ADPICO, he has seen a dramatic rise in large scale foreign steel investment projects in the region with the cooperation and assistance of the government of Abu Dhabi due to part of their strategy for the development and diversification of industrial capability that has been devised by President His Highness Sheik Khalifa Bin Zayed Al Nahyan and his policy for DFI.