Dr. Gargash said the in-depth discussions on draft laws reflected the effective relationship between the members of the FNC and the government. Referring to the corporate law, he said it took extra time to discuss the law to arrive at a right formula that will achieve the maximum benefit for all concerned.
“The Corporate Law is one of the most effective laws in the UAE, because of its implications for the country’s economy and the members of society. It helps to develop legislation that aims to improve the business environment and promote the UAE’s economic position on the global platform,” said Dr. Gargash.
“Developing economic legislation in the state is a top priority for the government in order to achieve a flexible and strong national economy and keep up with the global challenges. It is crucial to maintain sustained growth across all the economic sectors in the UAE,” he added.
Dr. Gargash said the Corporate Law will streamline the functioning of the companies through its diverse and comprehensive clauses, especially those that support the flow of foreign and private investment, and promote corporate social responsibility. It will also help establish governance rules and protect the rights of the shareholders.