Sep 13, 2020

UAE starting to look at investment in Israel

According to the Times of Israel, an investor from the United Arab Emirates is looking into the possibility of investing in the Jerusalem football (soccer) team Beitar Yerushalayim.

The irony of this, as pointed out in the article, is that Beitar is the Israeli team most known for its anti-Arab/Muslim fan base.

For me that is besides the point.

I dont know how much this businessman is considering investing into Beitar Yerushalayim, but I would suggest that Israel consider a new law if it does not already have one in place.

Over Shabbos I read an article about the UAE in Mishpacha magazine.According to the article, one of the reasons attributed to the great wealth and business success in the UAE is that they have a law that foreigners cannot own local businesses entirely. If a foreigner wants to buy ownership in a UAE business, or if a foreigner wants to open a business in the UAE, he must have a local UAE citizen owning at least 51% of the business.

 That is great for them, but I think any country doing business with them and taking investors and investment from the UAE should have a reciprocal law. If a UAE wants to buy a local soccer team, or have a stake in any Israeli business, and Israel should welcome it, they should be limited to 49% ownership, just as they limit Israelis (and everyone else) in UAE businesses.

 




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