DP World - UAE Region has employed key strategies to overcome the current challenges in the global market, a senior executive said at an important forum last week.
Shahab Al Jassmi, Commercial Director of Ports and Terminals - DP World-UAE Region, also spoke about the roadblocks in business due to the global crisis and revealed key strategies to overcome these challenges at the CEO Forum: Challenges and Future Opportunities for Ports and Shipping in the Gulf Cooperation Council, GCC.
Virtually held last week, the event united industry experts who shared insights on the hurdles faced due to the current COVID crisis and elaborated on favorable opportunities in the region.
Other speakers in the panel included Sheikh Yousef Al Abdullah Al Sabah Al Nasser Al Sabah, Director-General of Kuwait Ports Authority and President of Arab Sea Ports Federation, Kuwait; Lars Meurling, Vice President Marketing, Bromma, Sweden; Susan Hunter, Chief Executive Officer, APM Terminals Bahrain; Anupam Asthan, Senior Vice President of Sales and Marketing, Gulftainer, UAE; and Mark Geilenkirchen, Chief Executive Officer, SOHAR Port and Freezone, Sultanate of Oman.
Al Jassmi also shed light on the significance of embracing digital models of business to enhance the supply chain.
Since the onset of COVID-19, DP World, UAE Region has been committed to facilitating an uninterrupted flow of medical supplies and essential goods. To ensure trade flow amid a deteriorating market, the company also introduced key digital initiatives with a focus on prudent cost management, better productivity, asset utilization and automation processes.
Their initiatives such as Jebel Ali Free Zone (Jafza) Customer Support, in addition to other measures like flexible monthly rental payments, deferred payments and choice of leasing warehouses on a short-term basis, have complemented the government’s strategy, boosting the maritime sector in the UAE and the Middle East region.
Sheikh Yousef Al Abdullah said,
"The CEO Forum was a great platform to interact with peers and review strategies to enhance the economy and maritime transport sector in the GCC region. I believe that by supporting each other, we can rise above all adversity. Businesses have to adapt to the current economic environment and evaluate their processes to continue to generate revenue for the nation. It’s time for us to move away from old ways and adopt improved strategies to sustain in this new world. Evaluating the situation, I think that automation is definitely the key as it not only increases efficiency, but it also reduces costs after the initial investment."
The global pandemic has severely affected businesses around the world. The maritime industry too has experienced a major downturn.
Shahab Al Jassmi said,
"It is important for the maritime community to come together and formulate means to eliminate threats to the business. We were delighted to be a part of the Transport Events Limited CEO Forum. Events like these reflect the region’s spirit of unity and cooperation in responding to the economic upheaval. Over the last few months, we have realized the importance of having strategic foresight.
Such unprecedented situations test the caliber of all businesses. For us at DP World, UAE Region safeguarding business continuity, while protecting our employees from the risk of the virus was a top priority. Additionally, our sustained investments in digital technology and automation made operations highly resilient."
Susan Hunter said,
"The maritime sector is the lifeline of economies around the world. The CEO Forum facilitated experiential knowledge sharing, contributing to boosting regional and international trade. Despite the crisis, a detailed plan of action is essential for the growth of the business. Delivering business continuity and upholding the health and safety of our employees is vital. As a community, we must endeavor to devise a flexible and open approach and be prepared for future challenges. We at APM Terminals are taking all the necessary precautions in order to sustain trade flow."
CEO Forum hosted top-management panelists from ports and terminals in the Gulf Cooperation Council region. The virtual event offered a platform for professionals to network and helped them build a valuable contact base. Discussions included various topics, ranging from business setbacks to new developments in the field.
News Source: http://wam.ae/en/details/1395302876350