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Sharjah to set up new infrastructure development authority

SHARJAH, May 4, 2020

HH Dr Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued a decree the establishment of the Authority of Initiatives Implementation and Infrastructure Development (AIIID) in the emirate.
 
The authority, Mubadara, aims to implement the initiatives and promote the infrastructure development in Sharjah, contributing in ensuring proper implementation of government capital initiatives and projects related to infrastructure and in all fields in accordance with the highest standards.
 
It will also help create the infrastructure for government development projects in the emirate, ensuring optimal use of the human and financial resources; and enhancing the urban, social and economic development in the emirate.
 
As per the decree, AIIID’s headquarters will be based in the capital city and on approval from the Sharjah Executive Council (SEC), it may set up more branches within and outside the emirate.
 
The decree included a number of competencies necessary to achieve the authority's objectives and carry out its functions.
 
It stated that the Director General of Mubadara will be appointed by an Emiri decree, assisted by a sufficient number of employees and experts in accordance with its organisational structure. 
 
He shall have necessary authority and powers to manage the Authority's affairs and take the needed decisions to achieve its various goals, said the decree.
 
At the suggestion of the authority’s director-general and the approval of the Sharjah Executive Council, the organisational structure of the authority will be issued by Emiri decree.
 
The decree also defines the financial resources of the authority, including the government allocation , its own revenues as a result of exercising its powers, the AIIID’s investment proceeds; as well as any other resources approved by Sharjah ruler.
 
The decree-law is effective from the date of its issuance and other competent authorities should implement its provisions each in its respective field, and shall be published in the Official Gazette. Any provision contrary to its provisions shall be repealed, it added.-TradeArabia News Service



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