Investment body set up

(WAM)  

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, yesterday sponsored the inauguration of the Dubai Government Investment Foundation.

Singapore’s first prime minister Lee Kuan Yew, along with seven semi-government companies that have contributed to the value of investments in Dubai, were also honoured on the occasion.

In a message delivered by Mohammed Ibrahim Al Shibani, Director of Sheikh Mohammed’s Court and CEO of the foundation, Sheikh Mohammed said Lee Kuan Yew is internationally renowned for his distinctive leadership and made Singapore an economic and financial competitor in the world. Sheikh Mohammed said Lee transformed his country into a global business and tourism hub and proved how achievements can be pioneered through shrewd vision, solid resolution and hardwork.

Lee praised Sheikh Mohammed’s efforts and vision, which made Dubai, and the UAE in general, an international financial, economic and investment hub.

Sheikh Mohammed also honoured the companies that have added value to local and foreign investments in Dubai.

The ceremony was attended by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai Deputy Ruler, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Foundation for Management and Organisation of Events, Sheikh Mayed bin Mohammed bin Rashid Al Maktoum, Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation and President of Emirates airline, Sheikha Lubna Al Qasimi, Minister of Foreign Trade, Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs, Sultan bin Saeed Al Mansouri, Minister of Economy, and Obaid Humaid Al Tayer, Minister of State for Financial Affairs. The seven firms honoured were Emirates Group, Emirates NBD, Emaar, Emirates Investment and Development, Ducab, Borse Dubai and Dubai World. (Wam)