Dubai maritime sector contributed 4.6% to Dubai GDP

Dubai's maritime sector has made major leaps in terms of its direct contribution to Dubai's GDP, which amounted to 4.6 per cent or equivalent to Dh14.4 billion, said Sultan bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of Dubai Maritime City Authority (DMCA).

Underlining the significant role Dubai Maritime Sector Strategy (MSS) played in support of Dubai Maritime Vision 2030, said Bin Sulayem said the local maritime sector recently made major leaps in terms of its direct contribution to Dubai's GDP.

Maritime operations, maritime engineering, ports and shipping come as leading marine components that contribute to the local economy, followed by maritime and recreational services and different offshore support services.

Bin Sulayem made his statement during a recent DMCA supervisory coordination meeting that showcased the latest updates and achievements in the efforts to boost Dubai's maritime competitiveness and offer key foundations to raise the bar on the local maritime industry in line with internationally recognised standards and best international practices.

"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, following the vision and directives set forth by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum."

"These components played an active role in supplying the labor market with more than 75,000 promising job opportunities to meet the demand for qualified human resources, especially in maritime operations, maritime engineering and ports, which accounted for 51 per cent and 25 per cent of the employment rates within Dubai's maritime sector, respectively," said Bin Sulayem.

Dubai's maritime operations, maritime engineering, ports and shipping come 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. 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," Sultan bin Sulayem added.

The vision aims to develop, regulate and promote the local maritime industry while at the same time reinforce Dubai's position as a world-class, premiere international maritime hub.

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