The latest updates and achievements in the effort to boost Dubai’s maritime competitiveness was showcased at a recently Dubai Maritime City Authority (DMCA) meeting in the emirate.

Sultan Bin Sulayem, chairman of Dubai Ports, Customs and Free Zone Corporation and president of DMCA, the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, underlined the significant role played by the Dubai Maritime Sector Strategy (MSS) in support of Dubai Maritime Vision 2030.

The vision is aimed at developing, regulating and promoting the local maritime industry while at the same time reinforcing Dubai’s position as a world-class, premiere international maritime hub.

The meeting also offered key foundations to raise the bar on the local maritime industry in line with internationally recognised standards and best international practices.

“Dubai Maritime Vision 2030 is positioned as a strategic base to promote Dubai and its highly competitive maritime segment. In fact, Dubai is as equally competent with other leading maritime and logistics centres in the Middle East and North African (Mena) region and the rest of the world. To achieve the goals set out by Dubai Maritime Vision 2030, industry players in the emirate must work closely and intensify their efforts in reaching this vision,” said Sulayem.

“The local maritime industry is considered to be a key cornerstone in the unified efforts to drive sustainable growth and overall development in the future. It is also a major partner in the move to further enhance Dubai’s regional and international competitiveness. Moreover, the Dubai MSS is a key step forward in aiming to make a difference in the maritime industry and increase its contribution to the country’s GDP, which is poised to enhance its position as one of the leading value-added economical industries in Dubai,” he said.

The current performance indicators and the executive stages of the Dubai MSS, which has so far resulted in the creation and implementation of new regulations and guidelines to ensure further compliance with the highest maritime standards in safety and operations management was also discussed during the meeting.

The efforts are not only aimed at meeting the objectives set by the Dubai MSS but also to help increase productivity, competitiveness and the creation of an integrated and highly-sustainable maritime environment that can respond effectively to market changes and emerging trends by continuously attracting regional and international investors into Dubai.

The local maritime sector recently made major leaps in terms of its direct contribution to Dubai’s GDP, which amounted to 4.6 per cent or the equivalent of Dh14.4 billion ($3.9 billion). Maritime operations, maritime engineering, ports and shipping came as leading marine components that contribute to the local economy, followed by maritime and recreational services and different offshore support services.

“The Dubai MSS is gaining strategic momentum with a strong focus on developing essential maritime industry components. We are confident in our ability to achieve significant results and make a radical shift in lifting the local maritime sector to a higher level of growth and sustainability in collaboration with our strategic partners in the public and private sectors,” said Sulayem.

“We look forward to further work on the application of maritime strategic axes, which will have a central role in the local maritime sector’s move to help drive in more economic growth and turn Dubai into a major centre of entrepreneurship and investment,” he added. - TradeArabia News Service