The UAE Cabinet has approved the formation of a new Investment Ministry to support the country’s business objectives and investment policies.Mohammad Hassan Suwadi has reportedly been named investment minister Wow.
Al Suwaidi is the Managing Director and Chief Executive Officer of ADQ, Abu Dhabi’s investment and holding company.
Among other things, Alsuwaidi holds various other positions including Chairman of Abu Dhabi National Energy Company (Taqa), Vice Chairman of Masdar and Second Vice Chairman of Aldar Properties.
It will support the UAE’s business objectives and investment policies, and promote its world-class infrastructure as a global platform to attract investment across industries.
The new department will also be responsible for proposing the UAE’s overall investment policy in coordination with relevant authorities.
Among other things, it will formulate strategies, legislation, plans, projects and national programs to promote the country’s investment climate and enhance its competitiveness.