Dubai-UAE: 31 May, 2014 – The Council of UAE Companies Investing Abroad concluded its second meeting for 2014 at the Ministry of Economy offices in Dubai. The meeting was chaired by His Excellency Sultan Bin Saeed Al Mansouri, Minister of Economy.
Addressing the gathering, Al Mansouri said the Council seeks to facilitate investors in the UAE to actively explore quality investment opportunities on a global scale. He added that the Council also supports the UAE’s investments abroad by offering practical advisory and logistical support.
Al Mansouri noted that the establishment of the Council was aimed at encouraging economic diversification in light of the private sector’s expanding role in the UAE while enhancing the country’s reputation as a global economic power. He said that UAE-based companies are increasingly establishing regional or international operations and effectively managing their assets abroad.
He further pointed out that the Council coordinates closely with the Ministry of Foreign Affairs and the Ministry of Finance to support Emirati investments abroad by signing strategic agreements with stakeholders, offering diplomatic support and setting up joint committees.
The Minister said that the UAE is continuing to strengthen investments in key economic sectors by making use of foreign expertise and implementing scientific know-how adopted by developed countries. He also underlined the need for consistent efforts in exploring new markets in the developing and developed countries.
Al Mansouri reiterated that the Council will eventually pave the way for the establishment of a coalition of major UAE companies investing in key foreign markets across economic sectors as part of its mandate to drive investments of such companies in the designated markets.