GE has declared the Middle East is a key area of interest for growth strategies and says it hopes to see annual revenue increases of 20 per cent in the region.

The company, whose Middle East operations contributed more than $3.4 billion to group revenues, stresses it will continue to focus on developing world-class solutions in the energy, transportation and healthcare sectors to enable the company to grow in the region.
The creation of the new Middle East and Africa region and the appointment of Nabil Habayeb as President- GE Middle East and Africa, demonsrates the importance of its operations in the region and its emphasis on growth, a GE statement said.
Jeffrey Immelt, CEO of GE, who visited the Middle East recently, highlighted the company’s commitment.
“I want to reiterate GE’s commitment to serve a region where we have been present for over 70 years and have played a vital role in its development. Both GE and the governments here share a common interest in fostering regional advancement and we will do our part to drive further development and completion of strategic projects which are necessary,” said Immelt.
“The Middle East is a key region of interest for our growth strategies and holds many exciting opportunities - it’s a good example of how we can work together in various industry sectors including oil and gas, infrastructure, healthcare and energy to further promote growth, employment and transfer of knowledge and technology.”
Immelt held several high-level meetings including with Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Defence Minister, and the Emir of Qatar, Sheikh Hamad bin Khalifa Al Thani, to discuss mutual cooperation and strategic opportunities.  Additionally, Immelt met with Mohammed Al Gergawi, CEO of Dubai Holding, to explore areas of shared interest and joint-venture opportunities.
At the meetings GE agreed to play a leading role in several key initiatives taking place in the region. GE inked a partnership with Young Arab Leaders (YAL) to create programmes designed to transfer knowledge and expertise on leadership to YAL members.  YAL is an initiative launched in 2004 with the mandate to identify, nurture and promote future Arab leaders in all sectors of society.
GE has established a commanding presence in the Middle East and has built an extensive client base. Seven of the company’s eleven businesses - GE Transportation, GE Energy, GE Healthcare, GE Consumer and Industrial, GE Infrastructure, GE Advanced Materials and GE Commercial Finance - operate across the region through company headquarters in Dubai and Riyadh in addition to fully-fledged offices in other key markets including Kuwait and Qatar.
GE has also invested in numerous joint-venture enterprises in the UAE and Saudi Arabia and its own facilities throughout the region. Habayeb said the visit enhanced GE’s relationship with its existing and potential customers.  “Immelt’s visit has helped cement a strong relationship with our clients and potential customers, providing the opportunity to receive valuable feedback, which enables us to sharpen our strategies and consider new areas for growth. In our commitment to serve the region, GE is investing in an increased number of offices and facilities and is backed by a multinational workforce of 1,000 men and women,” commented Habayeb.