Developments of industrial sector legislation and its impact on industrial investors

Dr. Haitham Salman, the Managing Partner of Middle East Alliance Legal Consultancy LLC, has presented a seminar, on December 30th, 2019 – Abu Dhabi Chamber – Al Ain branch, covering the recent developments in both federal and Abu Dhabi business legislations and its impacts on enhancing the competitiveness and attractiveness of the UAE business environment in general and Abu Dhabi industrial sector in particular. At federal level, Dr. Haitham has covered the recent federal laws including the Commercial Companies Law (the new forms of companies and the requirements related to corporate governance), FDI Law (the requirements and the approved positive industrial activities list), SMEs Law (SMEs’ Executive Regulation and the definition of national SMEs enterprises and the list of incentives provided under SMEs program), Bankruptcy Law (the financial options provided under the law), Antidumping Law, and Financial Leasing Law with concentration on the application and the direct impacts of these federal laws on the investors in industrial sector. While, at Abu Dhabi level the recent legislative developments have been also covered including the establishment of the Industrial Development Bureau (IDB), the recent amendment of AD Real Estate Ownership which permits foreigners to own real estate property in any of AD investment zones, the resolution of DED’s Chairman to issue double licenses for business entities to operate in both onshore and offshore, and resolution of the Executive Council to reduce the government fee to register Musataha and lease contracts with a fixable payment schedule, the resolution of DED”s Chairman to exempt the new trade license from the licensing fee for the first two years, the resolution of DED’s Chairman to license innovation incubators, and the resolution of DED’s Chairman to enable industrial entities to promote, sell, and provide the services of installation and maintenance.