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16 July 2024

Dubai among world’s top 5 maritime clusters in competitiveness and attractiveness

Photo: Wam

By Wam

Dubai is poised as the first Arab city to lead the region at par with top global players and ranked fifth on the list of the world's most competitive and attractive maritime clusters, according to an international survey conducted by Menon Business Economics Group, the globally renowned organisation for benchmarking leading maritime capitals of the world.

The survey showed how Dubai has progressed confidently from 13th place in 2015 to 10th among the ‘Overall Leading Maritime Capitals of the World for the Year 2017.

’Dubai also ranked fifth in the ‘Competitiveness and Attractiveness Index’ in 2017 compared with eighth place in 2015. The emirate maintained its leading position among the most attractive business environments for locating maritime business’ and ‘the cities have the most complete maritime clusters,’ affirming the significant success and improved total performance of Dubai’s maritime sector.

Abdulla Al Shaibani, Secretary-General of the Executive Council of Dubai, said that Dubai’s ascension among the world’s top maritime capitals in 2017 just two years after the initial international assessment for 2015 is not surprising.

''Dubai is on the right track to boost the competitiveness, effectiveness and efficiency of the local maritime sector under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, in line with efforts to achieve the objectives of the Dubai Maritime Sector Strategy launched and implemented by the Dubai Maritime City Authority,'' he said.

He explained that the strategy aims to develop, organise and promote the local maritime sector and consolidate Dubai's position as a world-class maritime center.

"We are proud of this new success which constitutes another record achievement for Dubai on the global stage. This will encourage us to work harder to enhance the legislative, legal and financial structure and improve maritime services and logistics to promote Dubai’s transformation into one of the world’s leading maritime centers in the coming years, in line with Dubai Plan 2021 objectives, and following the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to reach the top position in the world."

Dubai progressed from ranking seventh in 2015 among the future leading maritime capitals to becoming sixth in 2017 and from 11th in 2015 to 10th among the world's largest shipping centers for 2017.

Dubai is 12th in 2017 compared with 13th in 2015 in terms of maritime finance and law services, and progressed from 15th to 14th place in terms of maritime technology.

The latest results confirm Dubai's competitive advantages in supporting the ambitious vision of being among the world's top maritime centers, joining the ranks of Singapore, Hamburg, Oslo, Hong Kong, Tokyo, Copenhagen, Athens, and London.

Sultan Bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of the Dubai Maritime City Authority, said: "We are happy with the results of Menon’s survey. This excellent achievement is due largely to the unlimited support of our wise leadership in developing a safe, sustainable and diverse maritime environment and providing a competitive, comprehensive and attractive investment climate, which are the driving forces behind Dubai’s fast and smooth transition to the phase of ‘post-oil economy’.

Bin Sulayem concluded: "Our major achievements in 2016 have driven Dubai’s emergence as one of the world’s best maritime capitals in 2017. Our strategy, which centers on innovation, knowledge and smart transformation, has accelerated the organization, development and promotion of the local maritime sector.

''We continuously invest in the provision of more advanced infrastructure, the development of policies and integrated regulatory frameworks, and further enhancement of our maritime capabilities – all of which will secure Dubai’s leading position on the global maritime map. We look forward today with confidence and optimism to achieve greater success within the next few years and make Dubai one of the top maritime clusters, backed by the Maritime Sector Strategy which promotes regional and international investor confidence in the competitive advantages of the local maritime sector and continuously upgrades its components, especially marine services and the operation and maintenance of very large vessels."

The Menon Business Economics Group polled more than 30 global maritime cities from around the world, with results revealing Dubai among the top five in terms of attractiveness and competitiveness and 10th overall in all aspects of the maritime sector.

The report surveyed 1,600 marine experts and professionals from 33 countries who evaluated the cities based on the five key indicators of Shipping Centers, Maritime Finance and Law, Ports and Logistics, Maritime Technology, and Marine Cluster Attractiveness and Competitiveness. Readiness indicators were evaluated as well.