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Welcome to the latest edition of Law Update titled “Rise of Generative AI.”
In this edition, we dive into the dynamic world of Technology, Media, and Telecommunications (TMT) across the Middle East and North Africa (MENA) region. TMT continues to play a vital role in positioning the region as an international business and social hub, driving significant growth and innovation.
Our focus in this Law Update is on the sector’s ongoing potential to advance and propel the region toward a more digital economy. We explore the benefits of embracing a digital transformation and how local authorities have responded by enhancing regulations to accommodate the evolving TMT landscape.
This edition covers a range of topics, including – the new Telecommunications & Information Technology Law in Saudi Arabia, the intricacies of trademarks in the Metaverse, and the legal challenges faced by the video game industry. Additionally, we take a regional perspective, discussing jurisdictions such as Kuwait, Saudi Arabia, UAE, Oman, and Bahrain to provide a comprehensive understanding of the TMT landscape.
We hope you thoroughly enjoy this packed issue of Law Update, filled with captivating articles that address key legal issues within a vital sector for the region.Read the full edition
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What new legislative measures have come into effect in the UAE that will impact business and investment?
AL TAMIMI: There are two pieces of legislation that come to mind that have been very important for the UAE. The first is the establishment the Dubai International Financial Centre (DIFC) and the second being the establishment of media free zones. The establishment of the DIFC was a major opportunity for international businesses; in particular those with a banking and finance focus. The innovation behind the setting up of DIFC was very unique because what we have is common law applied in a civil law society. This provides bankers and lawyers with the opportunity to work with contracts and a legal framework that they are used to and familiar with in their own countries. The establishment of Dubai Media City and Dubai Internet City as a hub for media doing business in the UAE has attracted a lot of media into the region with most of them operating beyond the UAE. This has been a milestone in the development of Dubai. In Abu Dhabi of course, there was the development of twofour54 – the first dedicated media free zone in the Emirate.
On the federal level and local level there are a number of pieces of legislation in the pipeline. The property regulation and rules in Dubai and Abu Dhabi are state of the art, with neighboring countries using these as a basis to develop their own legislation. As we know, the real estate sector in the UAE developed rapidly and throughout this there was much criticism about the lack of legislation. However, by the time the property market matured, we developed rules and regulations for the community that protects investors and regulates trust accounts, to name a few. This is certainly a model that neighboring countries can learn from.There are a number of other regulations in the pipeline including the long awaited company law. The good news about this law is that it will not be put into effect until it meets the expectations of the UAE and the international business community. This will make the UAE a leader in terms of corporate business structures, which in turn, will continue the ease of doing business here. There is also an investment law and a number of other legislative measures in the pipeline. However, the most important in recent years have been the establishment of the DIFC, Dubai Media City, and Dubai Internet City.
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