DP WORLD CHAIRMAN & DOMINICAN REPUBLIC PRESIDENT DISCUSS STRATEGY TO ATTRACT FOREIGN INVESTMENT
DP World to expand Caucedo port and logistics park, add 400-metre berth
DP World Group Chairman and CEO H.E Sultan Ahmed Bin Sulayem, met with Dominican Republic President Mr. Danilo Medina, recently to discuss the expansion of the global trade enabler’s Caucedo port operations, including its logistics park and quay side facilities.
During their meeting in Caucedo, discussions focused on a growth plan that would attract more foreign investment to the country. Approximately USD 400 million has been invested in the business. DP World and its partners are looking to expand their operations further by building another 400-metre berth to ensure its future as a regional trade hub.
DP World Group Chairman and CEO H.E Sultan Ahmed Bin Sulayem, said: “President Danilo Medina is working hard for his people and country, and the stable economy and political environment here will go a long way to attract more foreign investors. The government are also developing the legal and policy framework and we look forward to exploring opportunities to develop a host of online trade services for ease of doing business. We’ve seen first-hand the efficiencies of streamlined customs processes and electronic port community systems, like the Dubai Trade Portal at our flagship Jebel Ali Port and freezone.
The Domincan Republic has tremendous potential as a logistics hub and we’re pleased to be working in partnership with the local government to maximise on these opportunities. Adding another berth at DP World Caucedo ensures we remain competitive and can serve the growing demand for our services in the region.
“We’re also working on expanding the logistics park in Caucedo to attract new businesses and creating an ideal platform for the Dominican Republic to develop into a major hub for trade globally.”
The Caucedo Logistics Centre is a joint venture between DP World and Caucedo Development Corporation. It provides regional distribution facilities for foreign and Dominican businesses connecting them to a comprehensive, efficient, logistics multimodal network provided by the Port of Caucedo which is operated by DP World.
DP World Caucedo is located approximately 30 minutes from the capital Santo Domingo and near to the International Airport, Free Zone Parks and Logistics Centres. Its ideal location next to land and air transport links allows it to offer the movement of cargo through a seamless and multi-modal supply chain.
Trade between Dubai and the Dominican Republic during the first half of 2017 amounted to almost AED 48.6 million.
About DP World:
DP World is a leading enabler of global trade and an integral part of the supply chain. We operate multiple yet related businesses – from marine and inland terminals, maritime services, logistics and ancillary services to technology-driven trade solutions.
We have a portfolio of 78 operating marine and inland terminals supported by over 50 related businesses in over 40 countries across six continents with a significant presence in both high-growth and mature markets. We aim to be essential to the bright future of global trade, ensuring everything we do has a long-lasting positive impact on economies and society.
Our dedicated team of over 36,000 employees from 103 countries cultivates long-standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow.
Container handling is the company’s core business and generates more than three quarters of its revenue. In 2016, DP World handled around 64 million TEU (twenty-foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 84.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand.
14 October 2017