DP World launches new arm to support growth ambitions of firms
Officials during the event.
The initiative, which is set to further raise Dubai’s profile as a preferred global business destination, invites companies to enhance their international operating models with a base in the emirate.
Driven by the goal of ushering in a new era of opportunities for corporations, the Global Business Corporation (GBC) seeks to raise awareness of Dubai’s strengths and benefits as a location for high-value centralised business operations of large companies, such as headquarters, functional centres of excellence, and finance and treasury hubs.
Standing at the heart of a business-enabling ecosystem that includes special economic zones, the region’s largest trade port and a comprehensive portfolio of services and solutions, GBC seeks to connect companies to business enablers across Dubai to help them scale up and operate seamlessly.
GBC can provide business set-up and licensing - under unique common law-based GBC Regulations
- for large companies that wish to set up a limited liability entity or branch in Dubai.
A GBC license permits a foreign or domestic corporate group to own and operate a business management entity, allowing them to build a wide range of functional expertise and regional management capabilities as well as intellectual property, based on their strategies, operational needs, and capital requirements. GBC companies registered in the Jebel Ali Free Zone (Jafza) can also be used as holding companies.
The launch of GBC by DP World will open new horizons for large companies focused on strategic growth in a remapped, post-pandemic world.
Located at the strategic crossroads of major trade corridors and close to some of the world’s largest and fastest-growing markets, GBC will help companies access a comprehensive portfolio of business enablement solutions and a thriving business ecosystem in Dubai to facilitate new opportunities for businesses to expand their operations in Dubai.
“Dubai’s location provides easy access to vast opportunities in the emerging markets of the Middle East, Africa, Europe, and the CIS. With the growth of manufacturing in this region, our air, sea, road, and rail infrastructure seamlessly connect Dubai to markets all over the world. Dubai’s world-class business-enabling infrastructure, access to highly skilled talent pools and its ability to offer an array of strategic advantages make it one of the globe’s most growth-friendly business hubs. With the launch of GBC, we plan to be standard-bearers for ambitious high-growth companies from around the world and provide them the support needed to achieve their strategic ambitions,” said Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World.
“Today, more and more companies with global reach are finding Dubai an exciting business-friendly destination. Dubai is where political and economic stability meets culture, ideas and progress. Businesses have been coming to Dubai to grow and prosper for over a century.”
“The business world has changed, presenting opportunities for large companies to consider alternative locations when thinking about their strategic growth,” added Mohammed Al Muallem, Executive Vice President of DP World.
GBC is a complementary to the coalition of Dubai’s foreign direct investment advocacy and advisory groups. GBC will further enhance Dubai’s ability to add value and agility to corporations establishing their headquarters or regional hubs in the city.
Earlier the DP World announced that its terminal at London Gateway has handled its 10 millionth container, just nine years after the smart logistics hub on the doorstep of the capital opened for business.
The milestone illustrates the remarkable track record of growth at London Gateway, which last year transported 1.8m TEU, an increase of almost 650 per cent compared with its first full year of operation in 2014.
A new British pound 350m fourth berth will further increase capacity by a third when it opens in 2024.
Ernst Schulze, UK Chief Executive of DP World, said, “After the disruption of recent years, shipping lines and cargo owners are looking for capacity, reliability and growth opportunities. We are providing it, enabling customers to move goods smoothly and efficiently in and out of the UK and across their supply chains.”
“Within a decade, London Gateway is likely to be handling up to 30 per cent of the country’s containerised trade. Its port-centric logistics park will be one of the largest in Europe, employing 12,000 people and underpinned by investment in a second rail terminal and a new fourth berth.”
DP World operates the UK’s most advanced logistics hubs: two deep water ports at London Gateway and Southampton with access to freight rail terminals. By offering a choice of deep-water entry and exit points to and from UK, the leading provider of smart logistics solutions offers greater flexibility and choice for shipping lines, cargo owners and exporters.
