DP World, a leading provider of end-to-end supply chain solutions, has announced that it has signed a key agreement with Dubai Municipality for the development of the largest logistics hub in the world for foodstuffs, fruit and vegetable trade. 

 

This initiative aligns with the emirate's strategies to enhance investment and economic opportunities, thus contributing to the goals of the Dubai Economic Agenda D33, which aims to double the size of Dubai's economy and transform it into one of the top three economic cities globally by 2033, reported Wam. 

 

The project also aims to improve quality of life for Dubai's residents and enhance the city's overall attractiveness and livability, it added.

 

Announcing the launch, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, said: "Today, we have launched our plan to develop the largest logistics hub in the world for the trade of foodstuffs, fruits and vegetables. This expansion and doubling of the current market area will support our economic agenda and create larger commercial and investment opportunities. We have entrusted DP World with the management, operation, and development of the market, linking it with markets globally."

 

"Dubai's strategic location and advanced facilities make it a commercial and investment hub that attracts major companies. Our efforts will double in the coming period to enhance the emirate's role in creating investment opportunities for global companies and youth, integrating them into developmental projects. Dubai aims to be a leading destination for markets, export, and re-export operations across various sectors, maximising economic opportunities for investors in this field," he stated.

 

The agreement was signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Dawood Al Hajri, Director General of Dubai Municipality in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE.

 

This agreement marks the creation and management of the ‘Foodstuffs, Fruits and Vegetables Market,’ set to be the largest of its kind globally, stated Sheikh Maktoum.

 

He pointed out that the flexibility, efficiency and sustainability of Dubai's economic model enhanced its global attractiveness for investment opportunities.

 

"The new project will create new economic opportunities and a better investment environment in this crucial food sector, supporting Dubai's D33 economic vision," added Sheikh Maktoum. 

 

On the new project, Bin Sulayem said Dubai was a global model for generating investment opportunities and connecting regional and global markets across various sectors of trade.

 

"Establishing the world's largest foodstuffs, fruits and vegetables market will reinforce strong foundations of trade in this sphere across regional and global markets, particularly through novel logistical and financial solutions bound to be offered by the market," he added.

 

Al Hajri said the new project reflects Dubai's constant efforts to enhance its competitiveness and its attractiveness as a place to invest, live, and work in.

 

The agreement is part of Dubai's vision to develop markets, improve the quality of life for the community, and establish the emirate as an international trade hub by offering innovative solutions to boost investment opportunities and unlock new business horizons, he added.