Law of Regulation and Development of Industry of UAE
Decree No. 25 of 2022 regulating Federal Law of Regulation and Development of Industry was issued and its effective date is 02/01/2023, this Law replaces Law No. 1 of 1979 regarding the regulation of industry affairs.
This new Law supports the development and regulates the industrial sector, moreover, it provides the sector with more flexibility regarding adopting policies that supports the improvement of the sector, and it supports the growth of investments as well, and facilitates the procedures of national or foreign investment in the industrial activities across the country.
The scope of the law is all industrial activities around the country including free, economical, and specialized zones. The Law includes as well many bonuses for the industrial sector that reflects positively on the country’s strategy concerning the development of industry and investment.
Furthermore, the new Law enhances the national federal complementarity between the Ministry of Industry and Technology, national economic development circuits, and regulatory authorities in free, economical, specialized zones by achieving complementarity in the procedures and requirements of issuing industrial licenses.
Shura Law firm present its services in UAE with professionalism and experience, and we’re happy to have you communicate with us in 10 minutes free consultation via Zoom – book your appointment now.