Emirati entrepreneur and prominent businessman Adil Al Oteiba has been appointed as the first chairman of Arab Investment and Development Authority.

The appointment has been made by the General Secretariat of the International Parliament for Scientists of Human Development (IPSHD).

At the recently held mini session of the parliament it was declared that Aloteiba would be the right choice to lead the authority in a changing world, said a statement.

The secretariat has asked Oteiba to determine the composition of the board of directors and draft the vision and direction, the activities and objectives of the Arab body.

Oteiba has established a network of global relationships over the years and has implemented successfully a number of pioneering economic and developmental projects in the Arab world, said a statement.