In 2024, we marked twenty years since the passing of our Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan. His vision — rooted in unity, opportunity, and long-term thinking — laid the foundation for the UAE’s extraordinary rise, and his principles continue to shape our country’s trajectory.

Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, the UAE has accelerated and expanded its profound transformation — from a resource-based economy into one of the world’s most dynamic, resilient, and globally connected nations. This has been a deliberate and disciplined journey driven by innovation, global connectivity, and a steadfast commitment to unlocking the full potential of our people.

Mubadala was created to drive and support these priorities, and today the company stands as one of the UAE’s most critical institutions. For over two decades, it has been central to building future-focused industries, enabling global partnerships, and delivering sustainable, long-term value for the nation.

With the emergence of AI as a critical global focus, the UAE has taken its place at the forefront of advancements. By being the first country to appoint a Minister for AI, develop a national AI policy, and then by founding the world’s first AI university - the Mohamed bin Zayed University of Artificial Intelligence - the UAE demonstrated its understanding of the transformative potential of this technology and the critical need to harness it responsibly.

Today, the UAE’s AI sector is among the world’s most advanced, and 2024 saw significant milestones in further enhancing Abu Dhabi’s position as a leading global AI hub. The Artificial Intelligence and Advanced Technology Council established MGX with Mubadala and G42 as co-founding partners as a national AI and advanced technology investment champion, committed to accelerating the development of AI-led technologies that will deliver positive economic and social impact.

This latest manifestation of Mubadala’s innovation adds to its established global positions in semiconductors, advanced technology, life sciences, capital markets and energy. It is the product of long-term focus and disciplined execution. These sectors are national priorities and engines of future global economic growth.

By helping to shape and scale these sectors, Mubadala has positioned the UAE as a trusted hub for progress, attracting diverse talent, capital, and partnerships.

It is a point of pride that Mubadala is at the forefront of the UAE’s long-term philosophy of responsible investing in an increasingly competitive and fragmented world. Equally important, Mubadala continues to nurture generations of Emirati talent and contribute to a high-performing, globally competitive business environment, creating opportunities for everyone who calls our nation home.

On behalf of the Board of Directors, I sincerely thank His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates and Mubadala’s Founding Chairman, for his enduring leadership and vision. I also thank Khaldoon Al Mubarak and the entire Mubadala team for their relentless commitment to transformative progress.