(MENAFN - Arab News) The major successes of UAE companies in foreign investment can be attributed to strong support from the national leadership and relevant government ministries including the Foreign Ministry and the Ministry of Economy. said a top industrialist.
He made the remarks at the Highflyers Forum in Dubai, hosted by the Ministry of Economy to highlight the successes of more than 130 successful UAE companies that have operations and investments abroad.
Sultan bin Saeed Al-Mansouri, UAE minister of economy, opened the event.
It was held with the support of Shaikh Mohammed bin Rashid Al-Maktoum, vice-president and prime minister of the UAE and Ruler of Dubai.
The initiative by the Ministry of Economy was aimed at underlining the experiences and expertise of UAE companies that have investments abroad.
The total cumulative value of such investments across the world is AED350 billion, according to the UN Conference on Trade and Development (UNCTAD).
Majid Jafar, CEO of Crescent Petroleum and vice-chairman of the Crescent Group, gave the keynote address, entitled "Charting growth and prosperity: winning strategies to export UAE's mastery in a morphing global economy".
He described how the major successes of UAE companies in foreign investment can be attributed to the open policy adopted by the UAE to the world, and the strong government support provided to all UAE companies from the UAE leadership and all the relevant government ministries including the Foreign Ministry and the Ministry of Economy.
He also described how many UAE companies have already become regional and global leaders in their sectors, following key strategies such as excellence in quality standards, understanding and adapting well to the local environment, and high levels of corporate governance:
"We must continue to engage, as the UAE corporate community, in the national effort to ensure competitiveness, economic diversification and sustainability in the future," he said, while placing special emphasis on the key strategic decisions Emirati companies can take to export the UAE's economic expertise in achieving global competitiveness.
Describing the Crescent Group's experience in foreign investments over the past 43 years as a UAE-headquartered company, Jafar said:
"UAE companies have already successfully invested in over 100 countries worldwide, and we at the Crescent Group have current investments in 22 countries throughout the region and internationally, in sectors such as oil and gas, ports and logistics, power and engineering, real estate and construction, and private equity."
He added: "Our oil and gas operations through Crescent Petroleum - the oldest private exploration and production company in the Middle East have included experience as an international operator in numerous countries including Iraq, Egypt, Pakistan, Yemen, Canada, Yugoslavia, Tunisia, and Argentina."
The Highflyers Forum brought together prominent CEOs of UAE companies operating abroad and highlighted their successes in foreign investments, the challenges they face, and their strategies for future overseas expansion in international markets.
In addition to the speeches and panels, the Forum featured the video and launch ceremony of the Highflyers Initiative by HE the Minister of Economy.
Headquartered in Sharjah in the UAE, Crescent Petroleum has international offices in the UK and Iraq, as well as affiliated offices in Egypt and Bahrain.
Crescent Petroleum is also the largest shareholder in Dana Gas, the Middle East's leading publicly-listed natural gas company.
Through its sister company Crescent Enterprises, other subsidiary and affiliate companies include Gulftainer Group, Clinical Pathology Services (CPS), the Gama Aviation Group, and URUK Engineering.
The company also holds private equity fund investments and is a founding investor and shareholder in Abraaj Capital and GrowthGate Capital Corporation.