https://arab.news/b3997
- Logistics company invested $320m in the last year
DUBAI: DP World has invested more than $10 billion in the global logistics sector since 2012, Emirates News Agency has reported.
The figures make the UAE-based company one of the top five overseas investors during the time period, according to the most recent foreign direct investment data.
Despite the demand for logistics services slowing, along with the global economy, DP World invested $320 million in the last year.
Other companies in the top five include Amazon, and Denmark’s AP Moller Maersk, making DP World the only company in the group not based in the US or Europe.
DP World CEO Sultan Ahmed bin Sulayem said: “The data shared by ‘FDI Intelligence’ demonstrates where we stand globally within the logistics sector, not only in the last year but consistently over the last 10 years.
“DP World’s companies touch people’s lives around the world every day. Sometimes it is tangible, and sometimes we are in the background, making sure people and businesses get the goods they require.
“Our infrastructure opens untapped trade opportunities, grows economies and makes goods more affordable.
“Investing in developing economies helps trade go further, facilitates economic growth, attracts foreign investment and generates thousands of jobs — raising the quality of life for everyone.”
According to a study in January commissioned by DP World and led by Economist Impact, 96 percent of companies are changing their supply chains as a result of geopolitical events.
One of DP World’s priorities in 2022 was to expand its partnerships in order to realize this trade potential.
It strengthened its partnership with India’s National Investment and Infrastructure Fund to raise about $300 million, and it established a new platform with British International Investment to accelerate work in Africa.
The African continent has been a key focus area, with the construction of the Port of Ndayane in Senegal marking the start of a $1 billion investment.
Plans are also in the works to expand the capabilities of operations at Caucedo in the Dominican Republic, while the Callao Port expansion in Peru, when completed later this year, will reportedly create one of the single largest terminals in South America.
Another popular investment destination has been the UK. DP World has invested £2 billion ($2.44 billion) in the UK over the last decade, supporting thousands of jobs, WAM reported.