LONDON: The UAE’s new law enabling foreigners to own 100 percent of onshore companies will be limited to specific industries deemed essential to the country’s economy, according to a senior government official.
Abdulla Al-Saleh, undersecretary for foreign trade & industry at the UAE’s Ministry of Economy, told Bloomberg that a final decision had not been taken on what industries to include in this week’s landmark decision to allow foreigners to fully own non-free zone companies.
Al-Saleh said a committee — made up of representatives of the country’s seven emirates — would make a decision on which industries to initially include, and would add further industries and companies in the future.
The law’s goal “is to attract quality investments and expertise and isn’t necessarily about the size or number of investments,” he said in a telephone interview with Bloomberg.
The UAE’s Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum said the ownership changes — as well as longer visas for selected students and selected professions — would be put implemented by the end of the year.
The move to extend foreign ownership has been welcomed by economists, even as key details have yet to be announced.
“The eligibility and the extensiveness of the investment liberalization will be critical to gauge the support to the economy,” Monica Malik, the chief economist at Abu Dhabi Commercial Bank, told Arab News on Thursday.
“Recent official comments indicated that the area of focus will likely be on factors such as job creation and technology transfer.”
Such a theme is in keeping with the UAE’s move to allow visas for up to 10 years for specialists working in medical, scientific, research and technical sectors, alongside 5-year student visas and 10-year visas for “exceptional” students.
Longer visa terms are predicted to especially impact the local real estate sector, which has languished in recent years thanks to increasing supply and sluggish economic conditions.
Committee to decide on UAE industries open to full foreign ownership
Committee to decide on UAE industries open to full foreign ownership
- Committee of representatives from UAE's seven emirates to decide on which industries are open to 100 percent foreign ownership.
- Undersecretary for foreign trade & industry tells Bloomberg that new law's goal “is to attract quality investments and expertise and isn’t necessarily about the size or number of investments.”
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
