His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, unveiled plans for the world's largest logistics hub dedicated to foodstuffs, fruits, and vegetables.
This ambitious project is set to bolster Dubai's status as a global economic powerhouse and enhance its strategic position in international trade.
The initiative, part of Dubai's Economic Agenda D33, aims to double the emirate's economy and elevate it among the world's top three economic cities by 2033. Sheikh Mohammed bin Rashid emphasized the project's significance in creating substantial commercial and investment opportunities, entrusted to DP World for management and development.
"The expansion of our market area will support our economic agenda, fostering greater commercial prospects and enhancing Dubai's role as a global investment hub,"
Sheikh Mohammed bin Rashid stated.
Under the supervision of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, a partnership agreement was signed between Dubai Municipality and DP World to establish and manage the 'Foodstuffs, Fruits and Vegetables Market'. This market, touted to be the largest of its kind globally, underscores Dubai's commitment to sustainable economic growth and innovation.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, highlighted the project's alignment with Sheikh Mohammed's vision for economic prosperity.
"This new venture will create a conducive environment for investment, particularly in the vital food sector, supporting our ambitious economic goals,"
he affirmed.
DP World's Group Chairman and CEO, Sultan Ahmed bin Sulayem, noted Dubai's pivotal role in global trade and emphasized the market's potential to strengthen food trade across regional and global markets. The project promises to introduce pioneering logistical and financial solutions, leveraging Dubai's strategic location and robust economic model.
Dubai Municipality's Director General, Dawood Al Hajri, underscored the agreement's role in enhancing Dubai's commercial appeal and quality of life, reflecting ongoing efforts to establish the emirate as a premier destination for investment and trade.
The launch of the 'Logistics Hub for Foodstuffs, Fruit and Vegetable Trade' signifies Dubai's steadfast commitment to driving economic growth through strategic initiatives that position it at the forefront of global commerce.
News Source: Dubai Media Office
