UAE establishes new Ministry of Investment to Boost Economic Competitiveness

UAE establishes new Ministry of Investment to Boost Economic Competitiveness

Daily Current Affairs   /   UAE establishes new Ministry of Investment to Boost Economic Competitiveness

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Category : International Published on: July 06 2023

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  • The United Arab Emirates (UAE) has announced the establishment of a new Ministry of Investment aimed at developing the investment vision of the country and enhancing its competitiveness in the global market.
  • 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 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.
  • These cabinet policies and approvals are updates to the UAE’s National Energy Strategy 2050, which aims to decrease the country’s reliance on traditional oil and gas and shift to renewable and clean energy in the near future.
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