# UAE Establishes New Ministry of Investment

The Prime Minister of the UAE, Mohammed bin Rashid Al Maktoum, announced on Monday that "it has been decided to establish a Ministry of Investment in the country as part of the federal government structure, and to appoint Mohammed Hassan Al Suwaidi as Minister of Investment." He wrote on his official Twitter account: "The aim of the new ministry is to develop the investment vision of the state, stimulate the investment environment internally, and continuously enhance the competitiveness of our procedures and legislation to ensure that the country remains a global investment destination and a key player in global investment flows." He also stated that he chaired a Cabinet meeting at Al Watan Palace in Abu Dhabi, where important decisions were made, the first of which was, under the directives of the President of the State, may God protect him, the establishment of the Ministry of Investment in the federal government structure and the appointment of Mohammed Hassan Al Suwaidi as Minister of Investment in the state.