Member of the reigning family of the United Arab Emirates, Sheikh Sultan bin Khalifa bin Sultan al Nahayan is being held accountable for not fulfilling his side of a contract of investment which he had sign in Peru. As Peruvian courts begin formal investigations and prosecutions, it is clear that His highness, Sheik Sultan bin Khalifa bin Sultan al Nahayan is not above the law in Peru.
In the July of 2013, his highness, Sheik Sultan bin Khalifa bin Sultan al Nahayan, a member of one of the richest families in the world in the United Arab Emirates was welcome with open arm in Peru. During his visit he has signed a written agreement to invest in a mining area in the country of Peru. Mining is a thriving and emerging industry of Peru, it was estimated that Investments in Peru’s mining sector could reach a record $14 billion in the year 2014. The industry continues to flourish in 2015 and it is expected that investments in the sector are to reach record high in the upcoming year. The mining industry of the region is currently drawing investment from all over the world, likewise Sheik Sultan bin Khalifa bin Sultan al Nahayan has also shown interest in investing in new mining project in Peru which would open doors to new business realm for both countries and had signed a formal contract in 2013. However, he has declined honoring the contract he had previously signed, for which he is now officially under investigations by the Peruvian authorities, who are requesting him to appear before the judicial authorities for prosecution procedures.
Sheik Sultan bin Khalifa bin Sultan al Nahayan is a member of Abu Dhabi’s ruling family, the Al Nahyans. He is one of the board members of the Executive Council of Abu Dhabi, as well as a board member of the Abu Dhabi investment authority. By the means of his power and fortunes, the Sultan is now attempting to bypass being subjected to the Peruvian authorities and attempting to escape criminal responsibility. However, the Peruvian authorities are resolute about going forward with the investigation and prosecution, reinforcing the supremacy of the Peruvian law under which Sheik Sultan bin Khalifa bin Sultan al Nahayan will be held accountable.
About: Article published November 4th in the Newspaper “El Comercio”, Peru. http://elcomercio.pe