UAE Market Qualified to be Promoted to “Advanced”Truth Consultancy
The report of the “Truth” Economic and Management Consultancy said that the government decision regarding setting up a system that allows the offering and issuance of shares of companies located in the free zones in the UAE come within the framework of the efforts made by the Ministry of Economy, especially the Securities and Commodities Authority, to create a legislative environment that qualifies local markets. To upgrade to advanced markets.
In a statement singled out by Al-Ru’ya newspaper, Reda Mosallam, Managing partner of the company, stated that it also aims to expand the size of the capital and securities markets to include the market values of these companies, which means increasing the market values of countries with the same values.
He pointed out that the benefits of the decision are to expand the base of joint-stock companies, by entering foreign companies registered in the free zones, in front of potential investors, who prefer to invest in the financial markets of the state.
He stressed that the decision will also have its positive effects on opening the state’s markets to companies looking to offer their shares in new markets, instead of the traditional markets that tighten their requirements, which will have positive effects on the state’s markets.
He pointed out that the decision to allow foreign companies and establishments in the free zones to offer their shares means an important leap in the promotion of the state’s financial markets and steadily increasing its market value.
He pointed out that the decision would strengthen support for the UAE dirham, and make it reach the level of free currencies that countries and investors buy as a safe haven.