The AIIID will also facilitate the creation of infrastructure for government’s development projects and ensure optimal use of the human and financial resources while seeking to enhance the urban, social and economic development in the emirate, a statement said.
As per the decree, the director-general of the AIIID shall be appointed through an Emiri decree. The director-general, to be assisted by a sufficient number of officials and experts in accordance with its organisational structure, will have the authority and power to manage its affairs and take appropriate decisions to achieve goals.
The organisational structure of the authority will be announced through an Emiri decree in consultation with the director-general and with the approval of the SEC. The decree also defines the financial resources of the authority, including the government allocation, revenues generated, proceeds from investments as well as any other means approved by the Ruler of Sharjah.
The authority has the power to borrow and request for bank facilities to finance the government initiatives and projects. The SEC shall issue the order to implement the provisions of decree and also topics that are not stipulated as per the recommendation of the director-general. The director-general may also issue other administrative decisions related to the entity’s objectives and powers. The AIIID shall be exempted from all local government taxes and fees in all forms and manifestations, with the exception of consumption charges.
The Sharjah Consultative Council will be notified of this decree-law immediately and any rule contrary to its provisions shall be repealed. The law, effective from the date of its issuance, will be implemented by competent authorities and shall be published in the official gazette.
