UAE - Mubasher: The UAE recorded a 52% increase in the number of branches of foreign companies from more than 114 countries to 2577 during the past ten years.
British companies topped the foreign companies in terms of the number of branches registered in the UAE, accounting for 11.6% of these companies, followed by the US with 8.3%, India with 5.5%, and South Korea with 5.1%, according to a press release on Monday.
These companies invest in various vital sectors in the UAE and contribute to supporting the competitiveness of the country's economy.
The UAE Minister of Economy, Abdulla bin Touq Al Marri, said that the UAE government's recent amendments to the Commercial Companies Law, which allows 100% foreign ownership of companies, have boosted the attractiveness of regional and international companies to the UAE and contributed to the diversification of foreign investment flows.
The UAE has ranked first in the Arab region and 15th globally in terms of its potential to attract foreign direct investments (FDI), as per the latest report by the United Nations Conference on Trade and Development (UNCTAD).
In 2020, the UAE attracted $20 billion FDIs despite the challenges caused by the coronavirus (COVID-19) pandemic, up 11.24% from 2019.
