UAQ Crown Prince Initiates Investment Development Committee To Spur Economic Growth

In a significant move to bolster the investment landscape, H.H. Sheikh Rashid bin Saud bin Rashid Al Mu'alla, Crown Prince of Umm Al Qaiwain and Chairman of the Executive Council, has officially announced the formation of the emirate’s "Investment Development Committee" through Resolution No.2 for 2024. This strategic initiative underscores the emirate's commitment to enhancing its position as a key investment destination.

The newly established committee will function under the vigilant supervision of the Chairman of the Executive Council, ensuring a streamlined and effective approach to investment development. Sheikh Majid bin Saud bin Rashid Al Mu'alla, who heads the Umm Al Qaiwain Tourism and Archaeology Department, has been appointed to lead this pivotal committee. His leadership is expected to drive significant progress in realizing the emirate's investment aspirations.

The committee comprises distinguished members from various sectors critical to the investment and tourism landscape. These include Humaid Rashid Al Shamsi, Secretary-General of the Executive Council; Haitham Sultan Al Ali, Director of the Tourism and Antiquities Department; Hamad Youness Al Mulla; Fatima Abdullah Al Zarouny, who will serve as the Committee Rapporteur; and Moza Abdul Salam Buharoun, appointed as the Committee Coordinator.

This resolution is aimed at creating a more attractive investment environment within Umm Al Qaiwain. By fostering a supportive ecosystem for new ventures, enhancing investor confidence, and highlighting the diverse investment opportunities available locally, the committee is set to play a crucial role in propelling the emirate towards its economic goals.

The establishment of the Investment Development Committee marks a proactive step towards nurturing and expanding Umm Al Qaiwain's economic landscape. With a focus on collaboration between key departments and leveraging local assets, this initiative promises to open new avenues for growth and prosperity in the emirate.

With inputs from WAM