DUBAI: Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, on Wednesday received David Farr, chairman and CEO of Emerson Electric Company.
He welcomed the head of the diversified global manufacturing company, which has a regional office in Jebel Ali, Dubai for covering operations in the Middle East and North Africa.
The board of directors of the company held its first Middle East meeting in Dubai.
The Emerson CEO said that his company would be inaugurating a research and development centre in Jebel Ali tomorrow, the first such unit outside the US. Emerson invested $40 million for the centre.
The global facility will provide companies and specialised students with a "golden opportunity" to learn about the best practices in sustainability and innovation, he added.
Through its Dubai branch, the company posted more than US$1 billion in sales last year while total global sales topped $22 billion, Farr noted.
He also lauded the facilities given to investors and global companies in Dubai and described the emirate as an ideal destination and a regional hub that is stable economically and security-wise and that enables these companies to expand in the region.
The meeting was attended by Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai; Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chairman of Emirates Group, and Khalifa Saeed Sulaiman, Director-General of Dubai Protocol and Hospitality Department.