Dubai-based global marine terminal operator DP World has signed a memorandum of understanding with the Government of Mali for the development of trade and logistics, at the Investment Corporation of Dubai (ICD) Global Investment Forum, held in Dubai, UAE, today (November 16).

At the conference, DP World Group chairman and CEO Sultan Ahmed Bin Sulayem met with Ibrahim Boubacar Keita, President of Mali, and signed an agreement under which DP World, in partnership with the Government of Mali, will develop a master plan to enhance trade and logistics and unlock the resource rich country’s economic potential, said a statement from the company.

The plan includes a transportation and logistics strategy with electronic customs processes, replicating DP World’s successful model with Dubai trade at its flagship Jebel Ali Port and Freezone in Dubai, it said.

The partners will continue discussions and carry out due diligence studies on the infrastructure projects that fit with the government’s development goals, it added.

Additionally, Bin Sulayem, speaking on a panel discussion entitled ‘Investment opportunities in Dubai’, shed light on DP World’s integral role in the growth of the city into a global trade hub.

The company enables trade for about 50 per cent of the world's economy, while its flagship Jebel Ali port is the leading port in Middle East and a gateway to more than 2 billion people. With its free zone, the port sits at the crossroads of world trade, offering business-friendly processes to attract customers and together they contribute to over 20 per cent of Dubai’s gross domestic product.

Bin Sulayem said: “Dubai dared to dream and its vision became reality resulting in its transformation into a leader in everything it does.”

“Anticipating change, thinking smart and planning for the future provided the foundations on which we build today and tomorrow and now we are in the Digital Age where the pace of change and new technologies happens faster than ever before we need to keep learning to survive and flourish,” he added

“Innovation and the application of these technologies are at the heart of our business and our Jebel Ali port is among the world’s most technologically advanced,” he said.

Bin Sulayem continued: “Customers expect faster, more efficient and cost-effective services and we need to be able to deliver what they need even before they know they need it to stay competitive.”

“This is why we’re always on the lookout for new investment opportunities and technologies, such as Hyperloop One in which we’re a partner,” he said.

“We want to be a part of the industry’s future disruption and not a victim. Talent management, long term partnerships (PPPs), smart trade, economic diversification and a sustainable long-term approach will all drive our future. As a founding partner of Dubai’s Area 2071 initiative, we will also continue to work alongside the UAE’s leaders, committing our expertise to exploring new solutions to the transformation of our society,” he added.

Bin Sulayem added that those that embrace game changing technologies and breakthroughs such as Blockchain, the Internet of Things (IoT), Big Data, artificial intelligence, robotics and autonomous vehicles will also lead in the future.

He noted that the IoT alone was expected to contribute between $10-15 trillion to the global economy over the next twenty years. – TradeArabia News Service