How do you meld the pursuit of economic wealth and of strategic social goals in the public interest?
We look at a number of filters as we debate the Abu Dhabi Economic Vision 2030 and figure out what makes sense for Mubadala. Those filters range from goodness of fit — meaning playing to our strengths — to things like how significant a sector could be over time and the types of jobs an investment might create. We take a very deliberate approach to picking sectors, picking clusters, and understanding what’s needed to get from a large investment to a thriving, productive contributor to and, ultimately, driver of the GDP and the economy. Take our investment in Emirates Aluminium. This joint venture between Mubadala and Dubai Aluminium is constructing the largest single free-standing smelter in the world. Phase one is already operational, and we think we’ll be able to reach 1.5 million tonnes per annum over the next few years, with an aspiration to be a top-three or -four producer worldwide. This investment was a good fit: aluminium is an energy-intensive business and relies on a multiface
