Global Arab Network | UAE President Khalifa – One of the most powerful decision makers

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UAE President Khalifa – One of the most powerful decision makers

Global Arab Network - - Adam Turner

Monday, 03 August 2009 22:24

UAE President Shaikh Khalifa bin Zayed Al Nahyan, has been chosen by Newsweek magazine as one of the 50 most powerful decision makers in the World.

Newsweek magazine commended Shaikh Khalifa’s ability to tackle crises since an early age up to the current days, when he has managed to save the United Arab Emirates from the effects of the global financial crisis.

The magazine elaborated on Shaikh Khalifa’s political career, achievements and traits ever since the young Crown Prince of the emirate of Abu Dhabi, back in 1979, was tasked by his father Late Shaikh Zayed bin Sultan Al Nahyan, with tackling the financial crisis that hit the emirate because of high-interest loans given to nationals to finance new houses and businesses.

Directly addressing the crisis which hit the emirate a few years after independence and before the discovery of oil, Shaikh Khalifa set up a committee that purchased the indebted citizens’ debts and in less than a year slashed interest rates on their loans from 20 per cent to less than 2 per cent, said the magazine.

The committee later turned into a loan-giving entity directly and effectively contributing to uplifting the quality of life of the UAE citizens to very high levels matching those in the West and the rich nations. The move spurred extensive urban development, which boosted the popularity of the young crown prince, the magazine noted.

It also said that Shaikh Khalifa, who continues to build on the legacy of wisdom of his father, has developed strong relations with his own people, the region and the leaders of world.

It stated that upon taking over in 2004, Shaikh Khalifa launched reforms and a women’s empowerment process which led to the appointment of four women as ministers, giving women 30 per cent of senior government positions, and an increase in the number of businesswomen to more than 2400.

By hosting the Louvre Abu Dhabi, the first universal museum in this region, the Guggenheim museum and world-class universities such as the Sorbonne and New York University, Abu Dhabi is set to become a global cultural crossroad, Newsweek said.

It cited Jack Lang, former French minister of national education and culture, as saying that Abu Dhabi’s hosting of two of France’s cultural beacons represents the brightness and cleverness of the UAE leadership.

The Abu Dhabi Investment Authority (ADIA), world’s largest sovereign wealth fund, has managed to successfully and efficiently keep away the global financial crisis.

ADIA, it said, already holds large chunks of American firms like Toll Brothers, and the global downturn is fuelling new buying opportunities around the world. It will likely keep looking for Western blue-chip assets, too.

“That’s sure to test the tolerance of financial regulators and domestic political opinion, but in the end, the need for cash will probably win out,” the magazine added.

The magazine also featured comments by prominent figures from the UAE and other countries on the choice of Shaikh Khalifa among the 50 most powerful people in the world.

Sheikh Khalifa was elected as the UAE President to succeed his father, the late HH Sheikh Zayed bin Sultan Al Nahyan.

Sheikh Khalifa has committed himself to continue in the footsteps of his late father, a task that he has set himself for nearly thirty years, since he first became Crown Prince of Abu Dhabi in 1969.

Sheikh Khalifa said: "My father is my teacher. I learn something from him every day, follow his path and absorb from him his values, and the need for patience and prudence in all things."

Sheikh Khalifa was born in the inland oasis-city of Al Ain in 1948, where he went to school.

On 18th September 1966, following his father's assumption of the post of Ruler of Abu Dhabi, Sheikh Khalifa was appointed as Ruler's Representative in the Eastern Region of Abu Dhabi and as Head of the Courts Department in Al Ain.

On 1st February 1969, Sheikh Khalifa was nominated as the Crown Prince of Abu Dhabi, this being followed on 2nd February 1969 by his appointment as the Head of the Abu Dhabi Department of Defence, in which post he oversaw the building up of the Abu Dhabi Defence Force, ADDF, which later became the nucleus of the UAE Armed Forces.

On 1st July 1971, as part of the restructuring of the Government of the Emirate, Sheikh Khalifa was appointed as Prime Minister of Abu Dhabi and Minister of Defence and Finance.On 23rd December 1973, Sheikh Khalifa assumed the post of Deputy Prime Minister in the second UAE Federal Cabinet.

Shortly afterwards, when the Cabinet of Abu Dhabi Emirate was dissolved, as part of the process of strengthening the institutions of the UAE federation, Sheikh Khalifa was appointed, on 20th January 1974, as the first Chairman of the Abu Dhabi Executive Council, which replaced the Emirate's Cabinet.

Under his direction, and in accordance with the instructions of Sheikh Zayed, the Executive Council oversaw the implementation of a wide-ranging development programme in Abu Dhabi, including the construction of housing, water supplies and other essential services, roads and the general infrastructure that led to the emergence of the city of Abu Dhabi as the modern city that it is today.

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