Dubai Joins the Coveted Group of Top 5 Shipping Centers in the World
In 2018, Dubai surpassed a new milestone – it was ranked among the world’s top 5 hubs in the International Shipping Center Development Index (ISCD). Dubai has made it to the top 5 for the first time, and is led by Singapore, Hong Kong and London.
This achievement has cemented Dubai as one of the leaders in maritime shipping and logistics centers across the world, and it falls in line with the city’s goal to make the emirate one of the world’s most coveted business centers.
Dubai has been long known for its strong infrastructure and advancing maritime and logistic capabilities that have successfully cultivated a powerhouse that attracts trade, investment, innovation and business opportunities. Dubai overtook Hamburg, which fell to seventh, to lock in its fifth position on the index this year.
The report also stated that its growth has been backed by legal and legislative excellence. Sultan Ahmed bin Sulayem, chairman of PCFC and DMCA, mentioned that he wasn’t surprised at Dubai making it in the top five. Amer Ali, Executive Director of DMCA, echoed this comment.
Bin Sulayem also mentioned: “This is in part the result of our fruitful partnership with the public and private sectors forged to enhance the confidence of regional and international investors in the competitiveness of the local maritime sector and promote its components based on the pillars of research and development, innovation, and smart transformation. The components include shipping and ports, engineering and training, maritime support services and ports, and the operation and maintenance of giant maritime vessels.”
He has noted that Dubai is the only Arabic city to reach this coveted rank, and that it is on track to make groundbreaking achievement under the support of the Vice President and Prime Minister of UAE and Ruler of Dubai, H.H Sheikh Mohammed bin Rashid Al Maktoum.
DMCA also held an exhibition to demonstrate the strengths and advancement of the maritime community recently with its participation in the Ship Building Machinery and Marine Technology Exhibition, which is among the biggest tech and mine equipment exhibitions in Germany. H.E. Ali Abdulla Al Ahmad, the UAE Ambassador of Germany, acknowledged and encouraged the initiatives being taken to make Dubai’s global presence one that is compelling and attractive.
This exhibition provided DMCA a powerful platform to showcase its ambitious plans and goals designed to construct a state-of-the-art maritime sector that’s driven by technology, innovation, and knowledge. This will enable the emirate to join the ranks of Singapore, Hong Kong, Hamburg, Tokyo, London, Athens, Copenhagen, and Oslo.
H.E.Hisham Abdullah Al Shirwai, the 2nd Chairman of Dubai Chamber, said, “Dubai’s participation in the exhibition, one of the largest and most important exhibitions in the maritime industries, reflects the emirate’s importance and status as an international center for maritime transport and shipping thanks to its strategic location, expertise, competencies, and other advantages.”
Adding to that, he also noted Dubai’s growing contribution to the global trade system. He said that UAE’s maritime sector worth $54 billion contributed 5% to the local economy, and it is expected to increase even more in the coming years.