Tatu City selected to represent Kenya at the World Free Zones Organization hapakenya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hapakenya.com Daily Mail and Mail on Sunday newspapers.
DUBAI: UAE free zones may still attract smaller businesses despite new rules allowing foreigners to start a company without an Emirati shareholder, said a Moody’s analyst.
The law, which comes into effect from June 1, allows full ownership for foreign investors. Before this was only possible in dedicated business parks known as free zones.
The change has created uncertainty over the future role of such free zones as the country ramps up efforts to boost investment amid fierce regional competition to attract foreign companies.
“The removal of the foreign ownership limits for on-shore businesses reduces one of the major competitive advantages of free zones over on-shore investment,” Thaddeus Best, an analyst at Moody’s Sovereign Risk Group, told Arab News. ”However, the new FDI law still generally requires higher minimum capitalization levels for onshore businesses compared to the free zones. As such, free zones will still be more attractive for micro, small and medium ent
World FZO ties up with India, Uruguay free trade zones
DUBAI, 4 hours, 49 minutes ago The World Free Zones Organization (World FZO) has signed two new agreements with leading free zone organizations from India and Uruguay as part of its continuing efforts to establish cooperation and support economic zones around the world through its full range of free trade zone services. The World FZO has commissioned the All-in-One Program to expand its services to a larger cross-section of the free zone community, allowing each of India’s Export Promotion Council for Export Oriented Units & Special Economic Zones (EPCES) and the Uruguayan Chamber of Free Trade Zones (CZFUY) associated entities to become a voting member of the World FZO and have access to the complete range of World FZO services under the agreements.
UAE to host the 5th WCO Global AEO Conference Thu 20th May 2021 | 07:15 PM
DUBAI, (UrduPoint / Pakistan Point News / WAM - 20th May, 2021) Dubai Customs is hosting the 5th WCO Global Authorised Economic Operator Conference, to be held virtually over three days between 25th and 27th May, 2021.
Held in cooperation with the UAEFederal Customs Authority, the conference will serve as an ideal platform for exchanging ideas and insights between trade and supply chain professionals and officials. It brings together all stakeholders of global trade to explore the challenges, opportunities, and way forward for global trade under the Authorised Economic Operator (AEO) programme. The agenda will address several topics, such as security, risk management, customs clearance lifecycle, e-commerce integration, and new business models.