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FINANCIAL NEWS
Abu Dhabi aims to create free zone on Al-Maryah Island
29 Apr 2013
(MENAFN) Abu Dhabi is planning to set up a financial free zone on Al-Maryah Island, which takes after the success of Dubai, Qatar and Bahrain, reported Reuters.
The area will allow full ownership to establishments set up by foreign companies, being fully operational under international law and regulations.
The zone is to be based off the success of Dubai’s financial free zone, where it has its own laws, courts and a financial market.
It’s worth noting that Al-Maryah Island already has 50 international and local establishments since the zone was developed by the Mubadala fund in 2007.
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