Recently, UAE has been improving its strategy towards the improvement of its GDP by adopting a new Investment Law, which would foster new foreign investment relations and create a favorable business environment for foreign investors across the globe.
The concerned markets are most of the non-oil sectors including tourism, real estate and financial sectors. The outcome of the legislation being subjected to an upgrade is said to increase the Gross Domestic Product of UAE by 3-4%.
There is a list of laws which undergo the adjustment including a company law, an investment law, a bankruptcy law, a competitiveness law, an arbitration law and an intellectual property law amongst others.
This improvement will trigger a significant influx of foreign investment which shall surpass the already staggering 92$ billion recorded in 2014. The GDP is said to increase even further up to 5.4% after having won the bid for Expo 2020.
Changes in the legal regulations in the specified areas would give another positive impact on the country development and business and investment environment.
The changes in the law would also make the UAE the more favorable place for business and life.