Dubai ranked among top five in latest International Shipping Centre Development Index

Shipping Centers — By on August 20, 2018 at 12:19 PM

Dubai joins the ranks of Singapore, Hong Kong, London and Shanghai

20th August 2018 – Dubai, United Arab of Emirates – Dubai has scored a new milestone in its bid to cement its leadership in the international maritime sector after it was selected as one of the world’s top five in the International Shipping Centre Development Index (ISCD). Backed by legal and legislative excellence, Dubai is known for its advanced infrastructure, world-class maritime and logistics capabilities, a competitive environment conducive to trade, business and investment, and innovative free zones that match the world’s best. According to a recent report by the London-based Baltic Exchange and the Xinhua News Agency, Dubai has overtaken Hamburg, which fell from fourth to seventh place, confirming anew the emirate’s reputation as one of the leading maritime shipping and logistics centers in the world.

H.E. Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation (PCFC) and Chairman of Dubai Maritime City Authority (DMCA), was pleased that Dubai has been included in the top five, noting that the emirate was the first and the only Arabic city to reach the world’s fifth most competitive and attractive maritime clusters. Last year, Dubai ranked fifth in the list of the world’s top 10 maritime capitals. The emirate is on track to make unprecedented achievements under the relentless support of H. H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who envisioned a safe, integrated, and sustainable maritime sector in support of the UAE’s economic diversification policy in preparation for a post-oil future.

Bin Sulayem added: “We are proud of the new achievement, which is a testament to the success of our dedicated efforts to enhance the competitiveness of the local maritime sector and consolidate Dubai’s leadership as a major global maritime destination. 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.

Bin Sulayem concluded: “We are proud to see Dubai enter the top five in the ISCD, which is a major responsibility to further develop the legislative, regulatory and logistics infrastructure to the highest international standards of operational efficiency, maritime safety, and safe navigation in a bid to attract foreign direct investments. This is in line with the objectives of the Dubai Plan 2021 to make the emirate one of the most important business centers in the world. We are working hard to create a vibrant maritime environment to attract industry leaders and to promote Dubai’s status as a global shipping center supported by a series of leading quality initiatives, including the Dubai Maritime Virtual Cluster (DMVC), Dubai Maritime Cluster Office (DMCO), and Maritime Dubai. These initiatives would help pave the way for establishing Dubai and the UAE as an influential player within the global maritime economy.”

The International Shipping Centre Development Index used a methodology assessing the sector’s competitiveness, ability to attract maritime businesses, development of efforts in relation to creativity and innovation, and key role in advancing growth of the global shipping sector.

About Dubai Maritime City Authority:

Founded in 2007, Dubai Maritime City Authority (DMCA) has brought about a radical change in the local maritime sector through an extensive range of industry initiatives and regulations which support its ambitious approach to creating a safe investment environment for industry leaders from all over the world, while reaffirming Dubai’s position as a first-class international maritime hub. Established to monitor, develop and promote maritime activities, DMCA provides a platform of excellence and quality as it develops world-class regulations and guidelines to raise the bar on the maritime industry and boost its infrastructure, operations and logistics services while offering investment opportunities to boost Dubai’s competitiveness at the regional and international levels.

DMCA aims to build effective and strategic partnerships with relevant government agencies, private businesses and stakeholders in line with its vision to create a safe and vibrant maritime sector and therefore drive economic sustainability and growth in the emirate. The Authority is keen on expanding its scope of work and laying down effective policies under the highest standards of maritime safety and best environmental practices, in adherence with the local and international laws to develop a safe maritime environment for maritime operations and businesses.

 

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