United Arab Emirates Foreign Investment Regulations Essay Example for Free

United Arab Emirates Foreign Investment Regulations EssayIntroductionThe United Arab Emirates (UAE) is a cabal of seven countries and was formed the year 1971 immediately after the British withdrew from Gulf war. It has been known as the major exporter of petroleum in the world. In order to lose weight over reliance on petroleum the national government has been trying to encourage the foreign investment in Information and talk technology sectors. but various regulatory mannequins have been enacted by the national government to increase investment in the region. The national government assigns duties to federal government explaining how information and intercourse technologies are set up by foreign companies. capital of Kuwait and United Arab Emirates have been recognized as centres where sophisticated technologies are found in the ticker East because of the policy of being a free trade zone. In order to have a competitive ability or advantage in the world market the countr ies have established a foreign investment regulatory framework to enable them fit well in the information and communication technology market. The investment in ICT has been further to avoid full reliance on petroleum as source of revenue to the national government. The regulatory framework has stimulated the growth of different business ranging from global ,regional to local small and medium Enterprises(SMEs).There have been laws governing the ICT ,foreign direct investment and technology transfer in the countries making them to enjoy competitive advantage in the business environment1 .A good example of a regulatory law governing foreign investors is the Telecommunications restrictive Authority (TRA).The law was established in the year 2003 to ensure that there is adequacy in the distribution of telecommunication services in the United Arab Emirates and Kuwait Land. The services to be provided should encompass quality and other elements that bring substantial development to the c ommunication sector. The Telecommunication restrictive Authority also issue saucily licenses to the operational Data Services providers (DSPs) and Internet Service Providers (ISPs).The new licenses issued by the TRA is aimed at ensuring development of the Telecommunication sector. The other role played by the TRA in order to attract and protect young investors in the countries is inviting telecommunication engineering firms to submit their proposals on technical and financial evaluation so that they can avail in taking the responsibilities in operating the telecommunications technical office. The Telecommunications Regulatory Authority therefore has contributed a lot in attracting foreign investors to develop the ICT firms due to first growth of information and communication technology firm in both United Arab Emirates states and Kuwait2.. The other Regulation enacted by the national government is the National Telecommunications Regulatory Authority(NTRA).The NTRA has come up wi th a new tariff offer with an objective of promoting healthy competition between operators so that development in telecommunication orbit can be enhanced3 .For instance there has been a contractual or agreement model of interconnection that makes it easy for an operator to buy a subject matter of interconnection for a fixed tariff .This has been enacted to bring a substantial development in the countries.Conclusion.The slow development in Information and Communication engineering sector in UAE and Kuwait called for enactment of various foreign investments regulations to enhance growth in the sector. The foreign investors in the communication field have been encouraged to invest so as to make the states have competitive advantage in the global market. It also aims at reducing full dependence on petroleum as the only source of revenue to the national and federal governments.BibliographyChristian Campbell and Editor Campbell .Legal Aspects of doing business in the Middle East. London Lulu 2006.Elizabeth shake off Genovese.The Middle East and northernmost Africa 2000.Middle East Europa Publications 2002.World of Information .Middle East Review. The economic and Business report .London Kogan 2003.1 Christian Campbell and Editor Campbell .Legal Aspects of doing business in the Middle East. London Lulu 20062 World of Information .Middle East Review. The economic and Business report .London Kogan 20033 Elizabeth Fox Genovese.The Middle East and North Africa 2000.Middle East Europa publications 2002.