The report disclosed recently in Singapore, surveyed 200 experts and high-profile officials from leading maritime companies worldwide.
Dubai has moved up in the ranking of the world’s top 10 maritime capitals in 2019, the latest in its string of achievements that has made the emirate a globally competitive maritime hub. The emirate took the 9th spot this year, up from its 10th rank in 2017, according to a recent report issued by Menon Economics and DNV GL, the global organizations that specializes in benchmarking top maritime capitals of the world.
The report disclosed recently in Singapore, surveyed 200 experts and high-profile officials from leading maritime companies worldwide. Around 40 per cent of the experts were from Europe, 30 per cent from Asia, and 30 per cent from the US, Middle East, and Africa.
Sultan Bin Sulayem, Group Chairman and Chief Executive Officer of DP World; Chairman of Ports, Customs & Free Zone Corporation and Chairman of DMCA, said: “We are delighted to achieve this new global achievement that demonstrates the progress of the maritime sector in Dubai led with a leadership vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and Sheikh Hamdan Bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, and his support to the industry and keen efforts to enable out teams to achieve better results in all areas related to maritime sector. I would also like to thank the DMCA team for its work and dedication to ensure improved local maritime services at all levels.”
Bin Sulayem added: “The remarkable progress made by Dubai as one of the world’s best maritime capitals for 2019 is not surprising as it serves as a continuation of the path towards excellence to become number one in the world.
DMCA’s focus on research and development (R&D) and innovation to develop integrated logistics programs and advanced infrastructure and legislation is paying off as we ensure the highest standards of efficient maritime operations, occupational safety, and better environmental practices to reach global leadership. We are currently implementing an integrated and impactful portfolio of initiatives to enhance the sector’s competitiveness and guarantee its contributions to the country’s sustainable growth and economic diversification strategy. Promoting innovation, technology, and sustainability has enhanced the international community’s confidence in Dubai.
The success of our ambitious plans, supported by our fruitful cooperation with our government and private sector partners makes Dubai and the UAE an influential global force in the maritime industry.” Abdulla Mohammed Al Basti, Secretary General of the Executive Council of Dubai, was not surprised over Dubai’s improved ranking in just over two years, noting that the emirate is moving steadily and confidently towards meeting the highest standards of maritime competitiveness, efficiency, and effectiveness with an aim of increasing industry’s economic share in line with the directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai and Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council.
Additionally, the ongoing local efforts are aimed at implementing the goals of the Maritime Sector Strategy (MSS), which was launched and being implemented by the Dubai Maritime City Authority (DMCA) to establish Dubai as a world-class maritime centre. Al Basti added: “We are proud of this new and important achievement, which inspires us further to join forces and boost our march towards establishing Dubai as a world-class maritime hub with top-notch maritime and logistics services and outstanding operations.
We aim to transform Dubai into one of the world›s leading maritime centers over the next few years in line with Dubai Plan 2021 Plan.”
The global report has ranked Dubai as the leading maritime hub in the Middle East, India and Africa, while also being ranked 9th in the world. In line with this, experts expect the emirate to continue in its growth, further consolidating its pivotal role on the global maritime map to become one of the most important and powerful maritime capitals by 2024--reinforcing its strong presence as a major competitor to Hong Kong and major European maritime centers.
The Dubai Maritime City Authority (DMCA) has recently emphasised a new Dubai’s pioneering experience in maritime insurance as it shed light on some of the major local insurance services designed to ensure safe navigation, support maritime operational efficiency and security.
Hamed Hassan, Director for Registration and Licensing, DMCA said, “A comprehensive insurance coverage is one of the major pillars of the growth and sustainability of a maritime sector.”
We are keen towards adopting an integrated portfolio of insurance services that have been developed to meet the needs of the maritime sector, investors, owners and operators of international ships—ensuring their protection and coverage in case of an accident or an emergency situation.”
The Dubai Maritime City Authority (DMCA) has revealed excellent performance in 2018, posting remarkable growth in marine licensing within its territorial waters. The DMCA announced an 18 per cent increase in the application of marine driving licences as compared to 2017
The Dubai Multi Commodities Centre (DMCC), the world’s flagship Free Zone and Government of the Dubai Authority on commodities trade and enterprise, inaugurated its 2019 international roadshow under its Made For Trade Live umbrella in Edinburgh, Scotland followed by London, where it discussed the advantages of doing business in Dubai through the DMCC.
The UAE’s Foreign Exchange and Remittance Group (FERG) held the third edition of its annual Anti-money laundering (AML) & Operations Heads conference at the Steigenberger Hotel in Dubai on Sunday. Attended by over 170 representatives from 65 exchange houses, the conference highlighted pressing issues related to AML, risks, measures, and solutions associated with the effective operations
Etisalat Group on Tuesday announced that its consolidated revenues amounted to Dhs13 billion and consolidated net profit after Federal Royalty amounted to Dhs2.2 billion representing a year over year (y-o-y), increase of five percent and resulting in a net profit margin of 17 per cent.
The fourth Annual General Meeting (AGM) of Emaar Malls, approved the distribution of Dhs1.301 billion ($354 million) dividend, representing 10 per cent of the share capital being 10 fils per share, to the shareholders.
Investors on Tuesday traded with caution anticipating a further rise in the international oil prices, and conclusion of the third and largest phase of the general elections. Sensex ended 80 points lower after a range-bound movement throughout the day’s trade.