A total of 122 economic activities across 13 sectors were specified to be eligible for up to 100 per cent foreign ownership such as renewable energy, space, agriculture, and manufacturing industry.

The decision provides investors with an opportunity to acquire various shares in a number of economic activities including the production of solar panels, power transformers, green technology, and hybrid power plants.

Areas of foreign ownership also include transport and storage, which allows investors to own projects in the field of e-commerce transport, supply chain, logistics, and cold storage for pharmaceutical products.

The list will be declared very soon by the Emirati Government

Sectors restricted from 100 per cent foreign ownership appear on a ‘negative list’.

They include:

Oil exploration and production
Investigation, security, military (including manufacturing of military weapons, explosives, dress, and equipment)
Banking and financing activities
Insurance
Pilgrimage and Umrah services
Certain recruitment activities
Water and electricity provision
Fishing and related services
Post, telecommunication and other audio visual services
Road and air transport
Printing and publishing
Commercial agency
Medical retail (including pharmacies)
Blood banks, quarantines and venom/poison banks