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Abu Dhabi: Shaikh Mansour Bin Zayed Al Nahyan, Minister of Presidential Affairs and Chairman of the UAE Investment Authority, on Saturday chaired the authority's regular board meeting.
The board reviewed the strategic plan of the body's investments and opportunities to create investment companies and strategic partnerships with vital sectors to ensure the achievement of profitable investment returns to support the federal budget.
It approved the appointment of Mubarak Rashid Al Mansouri as chief executive of the authority. It also reviewed the activities of the authority's executive committee, which is tasked with coordinating with other bodies and setting regulations and investment plans of the investment body.
The authority was established in November 2007 by a federal law issued by President His Highness Shaikh Khalifa Bin Zayed Al Nahyan to manage assets of the federal government.
The law stipulates that the investment body is the sole authority responsible for investing surplus funds of the federal government.
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