UAE World Leader in Attracting Foreign Capital

The UAE is the best country in terms of attracting foreign capital, due to the motivating incentives and facilities it offers, said a leading businessman. In an exclusive interview with the Emirates News Agency (WAM), German investor and businessman Klaus Genssler, Founder, Chairman and CEO of MCC Petroleum Group, a processing company specialized in manufacturing and setting up oil reservoirs and pipelines through its regional headquarters in Dubai, highlighted the investment-friendly legislation issued recently by the country and the numerous incentives offered to local and foreign investors. He noted that the UAE has an advanced tech-driven infrastructure that meets the highest international standards. The country also has world-class air and sea ports capable of accommodating large vessels and aircraft, and has advanced and fully-equipped warehouses, in addition to highly organized roads system, and sophisticated telecommunications and internet networks, he added.

He explained that the UAE's laws will enable and encourage foreign investors to provide further capital and launch projects, driving the country's sustainable development. Genssler pointed out that the UAE aims to further advance its telecommunications industry, as part of its efforts to create an investment-friendly environment, adding that it has developed capital markets that draw foreign investors and companies, especially financial companies, a move that would help such business expand their activities and create more jobs.

“As investors and specialists in the oil and gas sector, we welcome such legislation, especially those supporting economic and industrial sectors,” he continued. MCC Petroleum is a leader in the field of engineering, procurement and contracting services, and provides services to the petroleum industry in the Middle East, most notably in the UAE, Kuwait and Iraq, he said, while pointing out that the group owns a mechanic fabrication workshop that produces equipment required for panel cutting, winding, sheathing and welding. Genssler concluded by expressing his appreciation to the UAE leadership for its forward-looking vision and limitless support of foreign investors.