Mohammed Alsuwaidi, managing director and chief executive of Abu Dhabi-based investment and holding company ADQ, has been appointed as the UAE's Minister of Investment.
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, made the announcement on Twitter on Monday after he chaired the latest Cabinet meeting.
“The aim of the new ministry is to develop the country's investment vision, stimulate the investment environment internally and continuously enhance the competitiveness of our procedures and legislation to ensure that the country remains a global destination for investment and a major player in the global investment movement,” Sheikh Mohammed wrote on Twitter.
Besides heading ADQ, Mr Alsuwaidi holds several other positions. He is chairman of Abu Dhabi National Energy Company, better known as Taqa, Pure Health and ADC Acquisition Corporation, according to ADQ’s website.
Mr Alsuwaidi is also deputy chairman of Abu Dhabi’s clean energy company Masdar and second vice chairman of Aldar Properties.
He is also a board director at Adnoc Distribution, Adnoc Gas, Abu Dhabi Pension Fund, Emirates Nuclear Energy Corporation, Louis Dreyfus Company, Al Dahra Holding, Lulu Group International and MiZa.
A holder of a bachelor’s degree in accounting from UAE University, Mr Alsuwaidi has extensive experience across several sectors.
Before joining ADQ, he worked in a number of sectors during his tenure with Mubadala Investment Company, where he held investment management positions covering sectors such as metals and mining, property, hospitality, infrastructure, technology and agriculture.
Mr Alsuwaidi also gained experience in retail banking and finance during stints with Union National Bank, Abu Dhabi Ship Building and the General Secretariat of the Abu Dhabi Executive Council.
