Mubadala to expand #UAE companies' operations to compete globally

Mubadala to expand UAE companies' operations to compete globally

Mubadala Investment Company aims to expand the operations of its UAE companies and help them to become “globally renowned competitors to the biggest companies out there in their sector”, a senior executive has said.

The UAE portfolio of the sovereign fund, which has an asset base of Dh1.04 trillion, includes aerospace manufacturer Strata, Sanad Group, Al Yah Satellite Company (Yahsat), Mubadala Health and clean energy company Masdar, among others.

“The time has come for us to expand beyond UAE and it is a natural growth strategy for all of UAE companies, especially the big ones,” Badr Al Olama, executive director of UAE clusters at Mubadala, told The National on the sidelines of the Global Aerospace Summit at Emirates Palace in Abu Dhabi on Wednesday.

“Even the industrial companies that you have in different emirates, I think the realisation is now you need to be global in your activities.”