According to recent reports, the UAE Cabinet decided on 20 May 2018 to allow 100% foreign ownership of companies in the UAE in certain industries. Currently, 100% ownership is allowed for companies in certain free zones, with restrictions on conducting business with other areas of the UAE. Otherwise, foreign ownership is generally limited to 49%. The Ministry of Economy has been instructed to prepare to implement the changes by the end of 2018, including the preparation of a report by the third quarter of 2018 on what industries will be allowed 100% foreign ownership.