Dubai Ruler’s Son Becomes UAE Finance Minister in Cabinet Rejig

(Bloomberg) -- The United Arab Emirates appointed Dubai ruler’s son as the country’s finance minister as part of a broader reorganization intended to speed up the pace of change in the Gulf nation.

Sheikh Maktoum bin Mohammed will also hold the role of a deputy prime minister, according to tweets from Dubai’s ruler on Saturday. As finance minister, he fills a position left vacant after the death in March of Sheikh Hamdan bin Rashid.

The changes would help the government focus on its priorities and “keep up with the coming stage of changes and challenges,” said Sheikh Mohammed bin Rashid Al Maktoum, the UAE prime minister and ruler of Dubai. He said government work will now be “driven by large transformative projects, not only long-term strategic plans.” 

Work will be structured in phases of six months to two years, as opposed to a previous strategy of splitting it into periods of five to 10 years, Sheikh Mohammed said.

The UAE is the second-biggest Gulf economy and this month outlined plans to reposition itself as a global hub for business and finance. The OPEC member is hoping to exceed 4% growth in 2021 and is looking to create more than 30,000 jobs in the coming year, Economy Minister Abdulla bin Touq said in September.

Other cabinet changes:

• Mohamed Hadi Al Hussaini becomes minister of state for financial affairs. He replaces Obaid Al Tayer
• Mariam Almheiri becomes minister for climate change and environment. She keeps her role as minister of state for food and water security
• Abdullah bin Sultan bin Awad Al Nuaimi becomes minister of justice. He replaces minister Sultan Al Badi
• Abdul Rahman Al Awar becomes minister of human resources and emiratisation. He replaces Nasser Al Hamli
• Abdullah Al Ketbi becomes minister for the affairs of the federal supreme council

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