The UAE announces ministerial changes, including finance and environment

Prime Minister of the United Arab Emirates and Dubai ruler Sheikh Mohamed bin Rashid Al Maktoum On Saturday, ministerial personnel changes were announced, including the new Minister of Finance and Minister of Environment.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum -Sheikh Mohammed’s son and current Deputy Ruler of Dubai-has been appointed as Deputy Prime Minister and Minister of Finance.

Mohammed bin Hadi Al Husseini succeeded the long-term Obaid Humaid Al Tayer as the Minister of Finance of the UAE. At the same time Mariam Muhaili Become Minister of Climate Change and Environment.

Suhail Mohamed Al Mazrouei is still Minister of Energy, but also plays the role of Minister of Infrastructure, which reflects the merger of the two ministries.

Sheikh Mohammed announced the reorganization as part of a new government strategy aimed at accelerating change through the UAE’s “transformation project”.

“The new strategy is accompanied by the completion of our previous plan, UAE The 2021 vision, through which we have achieved all the ambitions of the past 10 years,” he said on Twitter.

As the importance of oil declines, Gulf countries are seeking to obtain investment and improve their international status.

The UAE recently announced plans to launch 50 new economic initiatives to improve the country’s competitiveness and attract 550 billion dirhams (150 billion U.S. dollars) in foreign direct investment over the next nine years.

The Gulf countries have taken a number of measures in the past year to attract investment and foreigners to help their economies recover from the effects of the pandemic. These changes have also occurred at a time when economic competition with Saudi Arabia, a neighboring Gulf country, has become increasingly fierce as the region’s trade and business center.