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Mr. Bin Sulayem: Dubai and DP World anticipate and lead change
Smart innovation part of Dubai's DNA and contribution to the world
Dubai, United Arab Emirates: The transformation of Dubai and the UAE is the result of vision, innovation and planning ahead for the long term said DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem at the Investment Corporation of Dubai (ICD) Global Investment Forum in Dubai today.
Mr. Bin Sulayem was speaking on a panel discussion entitled ‘Investment opportunities in Dubai’ and shed light on DP World’s integral role in the growth of the city into a global trade hub. The company enables trade for about 50% of the world's economy, while its flagship Jebel Ali port is the leading port in Middle East and a gateway to more than 2 billion people. With its free zone, the port sits at the crossroads of world trade, offering business-friendly processes to attract customers and together they contribute to over 20% of Dubai’s GDP.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “Dubai dared to dream and its vision became reality resulting in its transformation into a leader in everything it does. Anticipating change, thinking smart and planning for the future provided the foundations on which we build today and tomorrow and now we are in the Digital Age where the pace of change and new technologies happens faster than ever before we need to keep learning to survive and flourish.
“Innovation and the application of these technologies are at the heart of our business and our Jebel Ali port is among the world’s most technologically advanced. Customers expect faster, more efficient and cost-effective services and we need to be able to deliver what they need even before they know they need it to stay competitive. This is why we’re always on the lookout for new investment opportunities and technologies, such as Hyperloop One in which we’re a partner.
“We want to be a part of the industry’s future disruption and not a victim. Talent management, long term partnerships (PPPs), smart trade, economic diversification and a sustainable long-term approach will all drive our future. As a founding partner of Dubai’s Area 2071 initiative, we will also continue to work alongside the UAE’s leaders, committing our expertise to exploring new solutions to the transformation of our society.”
Mr Bin Sulayem added that those that embrace game changing technologies and breakthroughs such as Blockchain, the Internet of Things, Big Data, Artificial Intelligence, Robotics and autonomous vehicles will also lead in the future. He noted that the IOT alone was expected to contribute between USD $10-15 trillion to the global economy over the next twenty years.
At the conference, Mr Bin Sulayem met with Mr Ibrahim Boubacar Keita, President of Mali, and signed an MoU under which DP World, in partnership with the Government of Mali, will develop a master plan to enhance trade and logistics and unlock the resource rich country’s economic potential. The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai Trade at its flagship Jebel Ali Port and Freezone in Dubai. The partners will continue discussions and carry out due diligence studies on the infrastructure projects that fit with the government’s development goals.
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For DP World media enquiries please contact:
Sanaa Maadad
Corporate Communications Manager
DP World
Tel: +971 505522610
sana.maadad@dpworld.com
Mike Vertigans
Senior Corporate Communications Manager
DP World
Tel: +971 566769324
michael.vertigans@dpworld.com
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About DP World:
DP World[1] is a leading enabler of global trade and an integral part of the supply chain. We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
We have a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring everything we do has a long-lasting positive impact on economies and society.
Our dedicated team of over 36,000 employees from 103 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2016, DP World handled 64 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 84.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand.
By thinking ahead, foreseeing change and innovating we aim to create the most productive, efficient and safe trade solutions globally.
*Term Sheet agreement
A nonbinding agreement detailing the basic terms and conditions under which an investment will be made. It serves as a template to develop more detailed legal documents. Once the parties involved reach an agreement on the details laid out in the term sheet, a binding agreement or contract that conforms to the term sheet details is then drawn up.
[1] As of April 2017
