In an interview with The National, Virtuzone CEO George Hojeige said the UAE’s new law allowing 100% foreign ownership of commercial mainland companies will make the country more attractive to foreign investors.
“This is something that is very positive from an FDI (foreign direct investment) perspective as it removes many barriers and allows investors to have full control of their business,” said George.
However, he emphasised that free zones remain competitive as they offer a host of other business advantages, including zero import and export duties.
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The Business Breakfast quotes Virtuzone CEO George Hojeige: