UAE world leader in attracting foreign capital: MCC Petroleum Founder

UAE world leader in attracting foreign capital: MCC Petroleum Founder

UMM AL QAIWAIN, 15th August, 2021 – The UAE has built a wide reputation as a leading regional hub for local and foreign investment through its futuristic and transparent vision that continues to enable its drive towards achieving sustainable growth and economic diversification.
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 specialised in manufacturing and setting up oil reservoirs and pipelines through its regional headquarters in Dubai, said the UAE is the best country in terms of attracting foreign capital, due to the motivating incentives and facilities it offers, especially with regard to movement of capital, as well as its political and security stability.
He highlighted the investment-friendly legislation issued recently by the country and the numerous incentives offered to local and foreign investors, noting 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 organised roads system, and advanced 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 stressed 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 helps 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 leaderships for their forward-looking vision and limitless support of foreign investors.