Dubai – Mubasher: Crown Prince of Dubai Hamdan bin Mohammed bin Rashid Al Maktoum has approved the Dubai Silk Road strategy as part of the 50-Year Charter.
This will improve the logistics sector in the emirate, as well as boost air and sea freight, the Crown Prince emphasised.
The new road strategy aims at cementing Dubai’s position as a key global strategic trade link and logistic hub, Sheikh Hamdan said.
The strategy has been prepared by the Ports, Customs and Free Zone Corporation (PCFC) in coordination with key state-run entities, Arabian Business reported.
It is worth noting that the strategy consists of nine initiatives and 33 projects to witness collaboration of Emirates, Dubai Airports, Dubai South, Dubai Free Zones (DFZ) Council, Dubai Maritime City Authority (DMCA), Dubai Roads and Transport Authority, DP World, Dubai Municipality, Jebel Ali Free Zone.
For his part, Sultan Ahmed bin Sulayem, chairman of PCFC, said: “Dubai is moving ahead with boosting its capabilities in trade and logistics services through a new strategy.”
“The strategy augments decades of successful investment in creating renowned ports, airports, and free zones both regionally and internationally,” Bin Sulayem added.
He further noted that Dubai’s non-oil foreign trade stood at AED 1.3 trillion in 2017, with free zones’ contribution reaching 33%, while sea trade jumped to AED 467 billion and air trade hit AED 594 billion.
In the first nine months of 2018, the emirate's external non-oil trade reached AED 965.3 billion, according to Bin Sulayem.
