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  • 16-01-22

    UAE issues new rules to promote non-oil sector, enhance investor confidence

    (MENAFN) According to analysts, the Emirates newest guidelines overseeing work ties to patent registrations are predicted to enhance investor confidence, improve facilitation of conducting business and boost its non-oil sector.

    The UAE Cabinet in its first gathering of this year OK’d guidelines ensuring rights for workers, arranging new kinds of labor and looking after industrial real estate rights. It also implemented 13 deals to foster investment and evade double taxation.

    According to Aathira Prasad, director of macroeconomics at consultancy Nasser Saidi & Associates statement, “this is a step in the right direction: it is imperative that the ‘soft infrastructure’ of laws and regulations should complement the ‘hard infrastructure’ in the UAE.”

    The official also added, “the latest approval of the labour relations and industrial property rights laws, by providing greater clarity on the regulatory side, will offer investors greater confidence and help attract more FDI into strategic projects. It will further ease of doing business as well as strengthen and support the non-oil economy in the UAE.”

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