The United Arab Emirates or the UAE is a major international trading hub. In order to enhance the performance of its national economy and reinforce its prime position, the Business Laws & Regulations in UAE have been developed to meet international standards since 1971 when the union was formed.
The pace of economic development in the UAE has been rapid and this has made it necessary for constant upgrades of the legislative framework. The government works closely with several different international institutions and organizations to modernize the economic legislation of the country. Significant attention is devoted to the local legal system of the UAE because a healthy legislative environment guarantees investors a safe and stable atmosphere in which to invest their money. It is the responsibility of the Department of Legal Affairs to develop Business Laws & Regulations in UAE related to investment, commerce and economy. The tasks given to this department include formulating circulars related to commercial and economic activities in the country, draft bills, amendments, administrative and ministerial decisions and ministerial resolutions.
No comments:
Post a Comment