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Mubadala: A partner in making UAE a force for progress and prosperity

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ABU DHABI, 17th May, 2022 (WAM) — As a global and responsible investor, Mubadala was established with the objective to generate long-term financial returns within an acceptable risk appetite.

Today, under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the company continues to shape the forward-looking economic base and global partnerships that have made the United Arab Emirates a force for progress and prosperity.

“The company’s achievements in 2021 demonstrated the impact responsible investors can and must have in driving progress at home and globally,” His Highness Sheikh Mohamed said in the Chairman’s Message published as part of the company’s Performance Report for 2021.

“Mubadala was established as a critical institution to help realise this national potential, and we are deeply proud that our investments have touched nearly every aspect of the national economic and social fabric, thereby creating the dynamic platforms for people to thrive.

“A powerful measure of Mubadala’s impact is the fact that its activities directly or indirectly enable our citizens, and the 200 nationalities who have made the Emirates home, to contribute to our society, and global progress in roles such as researchers, astronauts, artists, educators, doctors, engineers, technologists, clean energy experts, and start-up entrepreneurs,” Sheikh Mohamed added in the message titled ‘Looking to the Next 50’.

“Our progress to date means we are now beginning a new chapter as a nation. Mubadala is now calibrated to the country’s long-term potential, focusing on the sectors that will further enhance our knowledge-based economy, empower global progress and pioneer solutions to critical global challenges such as health innovation and the climate emergency.

“The company’s achievements in 2021 demonstrated the impact responsible investors can and must have in driving progress at home and globally. They also make me deeply grateful for the steadfast commitment of Mubadala’s talented people and dedicated partners in our country, region, and beyond,” he added.

2021 was a landmark year for Mubadala. It effectively completed its strategic shift to Mubadala 3.0 while creating value and demonstrating resilience in an increasingly complex and uncertain investment climate.

Notable achievements across the energy portfolio, artificial intelligence, life sciences, healthcare, communications, and advanced manufacturing show Mubadala is effectively operating at the leading edge of sectors foundational to global progress and to our nation’s economic and social fabric.

As Mubadala’s shareholder, the Government of Abu Dhabi believes global investors have a critical role in enabling decarbonisation across industries and ensuring global energy security while navigating the energy transition.

2021’s performance was an impressive way to bring Mubadala’s first two decades to a close. The human impact of those twenty years can be seen in the many professionals who began and developed their careers with Mubadala, and who are now leading across government and industry in the UAE and as investment professionals globally.

The last year was Mubadala’s strongest financial year in its 20-year history and its sixth year of consecutive growth in total comprehensive income.

With Assets Under Management topping AED 1 trillion for the first time, the company continues its strategic shift toward sectors with significant long-term growth potential.

It deployed AED 125 billion across multiple sectors during the year, including advanced manufacturing, technology, life sciences and mobility, while realising the value of our early commitment to transformational industries, such as semiconductor manufacturing and the energy transition.

A milestone achievement for the year was the listing of GlobalFoundries (GF) on the NASDAQ. As Mubadala’s single most significant investment, GlobalFoundries speaks to our steadfast, long-term commitment to technology, which is vital to human progress.

In the UAE, Yahsat was successfully listed on the Abu Dhabi Securities Exchange, helping to bolster the emirate as a global capital marketplace and hub for satellite communications technology.

The company accelerated its long-term focus on clean energy during the year as part of its response to the climate emergency, helping Abu Dhabi’s economy decarbonise and in doing so delivering on the UAE’s commitment to ‘Net Zero by 2050’.

In addition to welcoming ADNOC and TAQA as Masdar shareholders in order to create a global clean energy champion for Abu Dhabi, the company formed the Abu Dhabi Hydrogen Alliance to establish a long-term position in developing low-carbon green and blue hydrogen.

Mubadala Capital began operations as a wholly owned subsidiary with US$13.7 billion in assets under management, including managing third-party capital. Mubadala Health launched as an integrated healthcare network to serve patients seeking specialised care.

Both of these portfolio evolutions speak to the company’s track record of incubating world-class businesses and to its continued commitment to unlock new opportunities for the UAE.

With the complex outlook for 2022 and beyond, the company continues to be focussed on creating further value in areas of opportunity and staying aligned to its long-term mission to deliver returns in sectors that represent progress for the UAE and every nation the company invests in.

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