UAE President and Ruler of Abu Dhabi Sheikh Khalifa bin Zayed al-Nahyan has established two new economic bodies for the emirate of Abu Dhabi to promote inward and outward investment. The Abu Dhabi Investments Council will be responsible for the government investment outside the emirate, and the Abu Dhabi Economic Development Council will facilitate partnerships between the public and private sectors within Abu Dhabi.
The investments council will assume all the investment activities that previously fell under the auspices of the Abu Dhabi Investment Authority (ADIA). The new council will be headed by a seven-man board of directors, including the chairman and the deputy chairman. The board will serve for a renewable three-year term.The economic development council will assume a more proactive role in the development of the emirate. It will replace the Abu Dhabi Higher Consultative Committee.The council's board will be chaired by the chairman of the Executive Council, Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. The board of directors will comprise members of the public sector, private sector, Abu Dhabi Chamber of Commerce & Industry and the business council.
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