Family-owned companies will soon be able to get listed on the UAE's financial markets.
The federal cabinet has approved a draft law allowing these businesses to turn into public joint-stock companies.
It has also amended certain provisions in the country’s Agency Law, which regulates commercial and distribution agreements.
According to national news agency WAM, the initiative is aimed at boosting investment opportunities and encouraging UAE citizens to engage in business activities.
مجلس الوزراء يعتمد مشروع قانون اتحادي بتعديل بعض أحكام قانون تنظيم الوكالات التجارية، والذي يأتي في إطار مواكبة التطورات الاقتصادية والاحتياجات التنموية والاستثمارية في الدولة، وفق أفضل الممارسات العالمية #حكومة_الإمارات pic.twitter.com/CljsaPIoFl
— UAEGOV (@UAEmediaoffice) January 18, 2020
UAE President appoints new Federal Tax Authority chief
Uber expands into 7 new European markets in food-delivery push, FT reports
UAE strengthens market oversight to ensure price stability for Ramadan
H.H. Sheikh Mohammed appoints new PCFC Chairman
DP World announces new leadership appointments
