The UAE will soon issue a Foreign Direct Investment (FDI) law that will allow up to 100% foreign ownership in certain sectors. The Ministry has finalised the draft law and it will soon be in the Cabinet for discussion and, later on, will go to Federal National Council, according to Abdullah Al Saleh, Under-Secretary for Foreign Trade and Industry Affairs at the UAE Ministry of Economy. He further said that the percentage of ownership for foreign investors would be increased from the existing 49% to 100% in phases in certain sectors. He also stated that the sectors would be decided by a higher committee. The committee will see the priority for the UAE to attract investment in certain sectors, where value addition is required. (Khaleej Times)