Expo 2020 Impact: Big developments underway for Dubai Maritime sector

H.E. Sultan Ahmed Bin Sulayem, President of the Dubai Maritime City Authority ( DMCA ), emphasized the enormous development opportunities the iconic World Expo 2020 represents to Dubai and mentioned developments which can be expected in the Dubai Maritime Sector in coming years in an official statement released on December 14, 2013.

"Expo 2020 is an economic catalyst that will energize trade in the emirate in the coming years. The continuous improvement of operational and logistical efficiencies across maritime-related segments is

instrumental to

optimizing the flow of supply channels across land, sea and air. For its part, DMCA

will continue to uphold highly effective international maritime regulations and best practices to ensure the delivery of first-class services that can tap the economic potentials of hosting the expo," said H.E. Sultan Bin Sulayem.

"Dubai's maritime sector is expected to witness a substantial increase in commodities

traffic given the extensive features available in the emirate in terms of integrated infrastructure and operations and well-established regulations that ensure industry readiness under the highest international levels and standards of service quality," he added.

The proposed Maritime Sector strategy aims to establish an integrated logistics program, upgrade industry infrastructure, and launch up-to-date maritime regulations and legislations. It also imposes new requirements for operational supervision that uphold the highest standards of professional safety, sustainability, and adherence to local and international requirements to create an ideal work environment that enhances industry competitiveness. The MSS is primarily focused on leveraging maritime strengths such as ports, maritime support services, offshore operations, and maritime engineering.

Proposed developments:

Maritime Support Services

- Improve the entire maritime framework in compliance with best international practices

- Encourage maritime-related Research & Development, Training and Rehabilitation activities

- Establish and develop an appropriate mechanism to attract ship owners from all over the world to set up their businesses in Dubai

- Promote 'Value-Added Services' to increase marine traffic in Dubai

- Enhance marine tourist attractions

Offshore Operations and Maritime Engineering

- Provide necessary support to shipyards in Dubai in order to help develop advanced high-value assets

- Develop clear policies to provide incentives and financial facilities to support Dubai's ship maintenance industry

Recreational and Internal Services

- Streamline procedures for ownership, financing and insurance of boats

- Set up initiatives to enhance maintenance services of recreational marine crafts

- Enhance marine tourist attractions

A recent benchmarking study on leadership across the international maritime industry conducted by DMCA reveals that the value-added contributions of Dubai's maritime sector to the local economy are at 4.6 per cent compared to 4.5 per cent in Hong Kong, 7 per cent in Singapore, and 4.8 per cent in Norway. In terms of economic value added, the sector provided AED 14.4 billion in income to Dubai, compared to AED 41.1 billion for Hong Kong, AED

67.8 billion for Singapore, and AED 95.1 billion for Norway.

The study also shows how the maritime sector has become a prime source of employment. Dubai's maritime jobs ranked fourth with 75,000 employees; Hong Kong leads the pack with 222,000 employees, followed by Singapore with 167,000 and Norway with

Dubai Maritime Sector contributes AED 14.5 billion to GDP with over 75,000 job opportunities.

Source: DMCA

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