Abu Dhabi to issue FDI licences allowing 100% foreign ownership

DUBAI: Abu Dhabi, the capital of the United Arab Emirates, will issue foreign direct investment (FDI) licences to allow foreign investors to own 100% of projects in the emirate in sectors including agriculture, industry and services, state news agency WAM reported on Wednesday.

The move implements a foreign investment law approved in 2018 allowing foreign investors to own more than 49% and up to 100% of some UAE businesses, as the country seeks to boost private sector activity.

WAM said 122 economic activities, which were approved by the UAE cabinet last year across 13 sectors, would allow 100% foreign ownership in Abu Dhabi.