The United Arab Emirates (UAE) has announced the establishment of a new Ministry of Investment, which is aimed at developing the investment vision of the country and enhancing its competitiveness in the global market.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, chaired the UAE Cabinet meeting, where the decision was made.
Under the directives of President Sheikh Mohamed bin Zayed Al Nahyan, the UAE Cabinet approved the establishment of the Ministry of Investment and appointed Mohamed Hassan Al Suwaidi as the minister.
The ministry's main responsibilities will include proposing investment policies, preparing strategies and legislation, and implementing national programs to promote the investment environment and enhance its competitiveness.
The establishment of the Ministry of Investment reflects the UAE's commitment to attracting investments in various sectors and leveraging its world-class infrastructure as a global platform.
The ministry will work in coordination with relevant authorities to support the country's business objectives and investment policies.
