His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, paid a befitting tribute to outgoing Minister of Economy Sultan bin Saeed Al Mansoori as he announced the revamped Cabinet on Sunday.
"He (Al Mansoori) spent 16 years in the UAE Government. He handled all of his responsibilities professionally. Wish you all the best in the next phase of your life," Sheikh Mohammed said as he declared, "our national economy is an absolute strategic priority".
Al Mansoori, who has been a key frontline figure in UAE's successful economic diversification drive, is a graduate in industrial engineering from the US. He was appointed Minister of the Economy in a cabinet reshuffle on February 17, 2008, following his tenure in other roles as the Minister of Communication, the Minister of Transport and Communication and the Minister of Governmental Sector Development.
As the Minister of Economy, he played a significant role in initiating several landmark economic reforms, including the investor-friendly Foreign Direct Investment Law that allows increased levels of foreign ownership of companies in the UAE; the new Commercial Companies Law, and the Insolvency Law.
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