1.04 PM Sunday, 21 April 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:30 05:48 12:20 15:48 18:48 20:05
21 April 2024

Maktoum bin Mohammed meets with global heads of FedEx, one of the world’s largest transportation companies

By E247

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, today met with Raj Subramaniam, President, Chief Executive Officer, and Director, FedEx Corporation and Richard W. Smith, President and Chief Executive Officer, Airline and International, FedEx.

Speaking during the meeting, HH Sheikh Maktoum said: "Building strategic partnerships with the globe’s leading logistics firms has been key to Dubai's rise as a pivotal international trading hub. The logistics sector is a vital pillar of Dubai’s growth and the city’s emergence over the years as a leading global economic player and a bridge between international markets. The sector continues to play a key role in achieving the goals of the Dubai Economic Agenda D33 to double the city’s GDP and establish it as one of the world’s top three urban economies.”

“In partnership with global logistics industry leaders, Dubai remains focused on integrating advanced technologies and best practices to boost its leadership in the sector and set new global standards for innovation, sustainability and competitiveness. We also continue to provide the world’s leading logistics players with a productive base and environment to unlock new opportunities for growth and excellence for them,” His Highness added.

With an annual revenue of $88 billion, FedEx Corporation provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. The company has more than 500,000 employees in over 220 companies. FedEx Express, a subsidiary of FedEx Corp, established its regional headquarters in Dubai in 1989 and the company’s Dubai Hub commenced operations in 1998 as a hub for the Middle East, Indian Subcontinent and Africa (MEISA).

Earlier this week, FedEx Express launched its $350 million (AED1.3 billion) state-of-the-art air and ground hub at Dubai World Central (DWC) Airport in Dubai South. The hub not only serves the MEISA region, which accounts for approximately 45% of the world’s population, but is also a crucial part of FedEx’s global air network that connects 220 countries and territories. The launch of the hub represents FedEx’s long-term investment in the UAE’s economy through infrastructure and technological advancements in the facility.

During the meeting, FedEx officials expressed the company's strong commitment to expanding its presence in the region from its Dubai base. They also said that FedEx is keen to further strengthen its partnership with Dubai and leverage the city’s strategic location and its robust infrastructure to enhance its service offerings.

The meeting was attended by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Helal Saeed Almarri, Director General of Dubai's Department of Economy and Tourism; and His Excellency Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South.