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Dubai World’s New Board Holds First Meeting

DUBAI - The new board of directors of Dubai World held its first meeting today chaired by Shaikh Ahmad bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority.

The session commenced with Shaikh Ahmad thanking His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, for the trust His Highness has bestowed on the Board and the major responsibility he has entrusted its members to carry on the company’s activity towards boosting its capabilities and bolstering those of its related entities.

Shaikh Ahmad bin Saeed further emphasized the economic and financial weight that Dubai World represents for the United Arab Emirates and for Dubai with respect to the diversity of the company’s portfolio which includes businesses in vital economic sectors such as transport, shipping, commerce, ship building and maintenance, free zone management, as well as the company’s contribution to the real estate and hospitality sectors.

The meeting discussed the company’s future work plans. Shaikh Ahmad emphasised adopting a strategy that aims at optimizing Dubai World’s performance along with that of its related companies, and fortifying its financial position, which in turn will enable the company to meet its financial and contractual commitments as well as achieve growth in its various arms in accordance with its short and long term growth strategic targets.

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