Ajman panel approves 100% foreign ownership
- 31 May 2021
Staff Reporter, Gulf Today
The Ajman Executive Council approved the opening of economic activities for foreign investment at 100 per cent in line with the UAE’s policies and strategic visions.
This excludes the economic activities with a strategic impact that were agreed upon during the meeting of Strategic Impact Economic Activities Committee recently headed by the Minister of Economy.
The decision was taken during the fourth session of Ajman Executive Council held under the chairmanship of Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Ajman Executive Council.
“In light of the rapid developments around us, we in Ajman Government will keep abreast of the changing global scene and will be able to deal with it to redirect the emirate’s strategies and plans to serve the current requirements and tomorrow’s aspirations,” Sheikh Ammar said at the beginning of the session. The session reviewed a number of reports on digital transformation as well as a report on strategic activities economic activities.
The session also reviewed the updates of the report on strategic impact economic activities, which clarifies the importance of providing a global competitive investment environment and opening economic activities to foreign investment in line with the UAE’s vision and the amendments to the Commercial Companies Law in implementation of the Cabinet’s decision in this regard.
In addition, the session reviewed a report on Ajman’s unified app, which was developed by the Department of Digital Ajman and combines ease, flexibility, privacy and security to enable customers to benefit from services and complete transactions in a smooth and safe manner.
The council stressed the necessity for the app to provide integrated services that shorten the customer’s journey and eliminate the need for him to visit service centres. It also reviewed the transformation index report on government service delivery platforms, as the target exceeded 50 per cent this year.
