Abu Dhabi-based Tawazun Economic Council has announced the appointment of Tareq Abdul Raheem Al Hosani as the chief executive officer of the council and Tawazun Holding, a Wam news agency report said.

The council was founded in 1992 to fulfil a vision of comprehensive and sustainable economic and social development within the UAE. The council is responsible for the Tawazun Economic Programme, an offset programme.

To date, the programme has resulted in the creation of several multi-million dollar joint ventures in various economic and industrial sectors, including ship building, district cooling, aircraft leasing, fish farming, healthcare, agriculture, banking and education.

Since 2010, Tawazun Economic Council has focused on modern technology in industry and facilitated relevant joint ventures like Advanced Military Maintenance, Repair and Overhaul Centre, AMMROC, Tawazun Dynamics and Etihad Ship Building.

Tawazun Holding, borne out of the long-established Tawazun Economic Council, was created in 2007 to develop ventures through industrial partnerships and strategic investments that add value to the UAE’s industrial manufacturing sector across a number of areas, including defense and aerospace, automotive, munitions, metals and technology.

Prior to his new role, Al Hosani served as the deputy director general of the National Electronic Security Authority (NESA). He also held various management positions in Mubadala Development Company and Yah Satellite Telecommunications Company, Yahsat. He also serves as a board member of several organisations.

Al Hosani holds a Masters Degree in Electronics and Communications from Universite Pierre et Marie Curie, France, and a Bachelors Degree in Aeronautics from Saint Louis University, US.

On assuming the new role, Tareq Al Hosani said: "I am truly honoured to serve as part of Tawazun Economic Council, which has a rich history and promising prospects. I look forward to building on the vision of our wise leadership for a brighter future to the UAE."