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Satnews Daily
October 15th, 2019

Economic Free Zone for Foreign Companies Engaged in Space-Related Development Initiated by the UAE Space Agency

In a story by journalist Sarwat Nasir of the Khaleej Times infosite, economic free zones and infrastructure for space-related activities have been launched in the UAE to help provide space firms the proper laws and regulations to operate in the country.

This is part of the UAE Space Agency's Investment Plan, which has been officially approved by the government and is now active — the National Space Strategy has also been approved. The space agency has signed a memorandum of understanding with Dubai South to use their grounds as a space economic free zone.

The UAE is focused on significantly increasing space investments in the country and under the new strategy, space firms have the necessary regulations and laws to operate in the UAE. Under the new UAE company ownership laws, the space sector is also one of those foreign companies that can retain 100 percent ownership without need of a local partner.

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