(MENAFN - Khaleej Times) Dubai has moved up in the ranking of the world's top 10 maritime capitals in 2019, taking up the ninth spot this year, up from its 10th rank in 2017, a new report has revealed.
The report, issued by Menon Economics and DNV GL, ranked Dubai as the leading maritime hub in the Middle East, India and Africa, while also being ranked ninth in the world. The emirate is expected to continue in its growth, further consolidating its pivotal role on the global maritime map to become one of the most important and powerful maritime capitals, reinforcing its strong presence as a major competitor to Hong Kong and major European maritime centers. Experts have predicted that Dubai is expected to take the fifth spot among world's top maritime cluster by 2024.
"The remarkable progress made by Dubai as one of the world's best maritime capitals for 2019 is not surprising as it serves as a continuation of the path towards excellence to become number one in the world," said Sultan Bin Sulayem, group chairman and CEO of DP World, chairman of Ports, Customs & Free Zone Corporation, and chairman of Dubai Maritime City Authority (DMCA).
He added: "DMCA's focus on research and development and innovation to develop integrated logistics programs and advanced infrastructure and legislation is paying off as we ensure the highest standards of efficient maritime operations, occupational safety, and better environmental practices to reach global leadership. We are currently implementing an integrated and impactful portfolio of initiatives to enhance the sector's competitiveness and guarantee its contributions to the country's sustainable growth and economic diversification strategy. Promoting innovation, technology, and sustainability has enhanced the international community's confidence in Dubai."
Dubai's local maritime sector is home to more than 7,400 active companies, producing over 13,000 activities and creating 76,000 jobs. The maritime sector's contribution to Dubai's GDP stands at seven per cent and is worth Dh26.9 billion
Abdulla Mohammed Al Basti, secretary general of the Executive Council of Dubai, was not surprised over Dubai's improved ranking in just over two years, noting that the emirate is moving steadily and confidently towards meeting the highest standards of maritime competitiveness, efficiency, and effectiveness. "We are proud of this new and important achievement, which inspires us further to join forces and boost our march towards establishing Dubai as a world-class maritime hub with top-notch maritime and logistics services and outstanding operations. We aim to transform Dubai into one of the world's leading maritime centers over the next few years in line with Dubai Plan 2021 Plan," he said.