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Saturday, June 3, 2023

DP World’s overseas logistics investment crosses $10 billion mark

Since 2012, DP World has invested more than US$10 billion in global logistics, making it one of the top five overseas investors during this period, according to the latest foreign direct investment (FDI) data released by a leading industry consultancy.

The FDI Intelligence of the Financial Times recently released the top five list for 2022. According to the total value of direct investment allocated to the overseas logistics service industry, DP World ranks fifth in the world.

DP World’s investments totaled US$320 million over the past year, despite a slowdown in the global economy that has stagnated demand for logistics services. The 2023 forecast foresees single-digit growth in demand from the industry.

Other companies in the top five include US giant Amazon and Denmark’s AP Moller Maersk. DP World is the only company in the top five based outside the US or Europe.

Commenting on the rankings, Group Chairman and Chief Executive Sultan Ahmed bin Sulayem said: “The data shared by FDI Intelligence demonstrates our position in the global logistics space, not only over the past year but over the past 10 years. DP World’s The company touches the lives of people every day around the world.”

“Sometimes it’s tangible, sometimes we’re behind the scenes making sure people and businesses get the goods they need. Our infrastructure opens up untapped opportunities for trade, grows the economy and makes goods cheaper. Investing in developing economies helps trade Going the extra mile to boost economic development growth, attract foreign investment and create thousands of jobs — improving the quality of life for everyone,” he added.

One of the company’s key priorities in 2022 is to expand partnerships to unlock this trade potential. DP World has strengthened its relationship with India’s National Infrastructure Investment Fund (NIIF), raising $300 million and creating a new investment platform with IIC to accelerate investment in Africa.

The latest ‘Trade in Transition’ study commissioned by DP World in January and led by Economist Impact revealed the emergence of a major shift in globalization as companies rush to move manufacturing closer to home to prevent supply chain disruptions, At the same time, more and more protectionist policies are being implemented. Divide the world into trade blocs.

Its key finding is that 96 percent of companies are changing their supply chains as a result of geopolitical events.

The African continent has been a major area of ​​focus, with the development of the inner port of Ndaya in Senegal marking the start of a $1 billion investment. This is DP World’s largest port investment in Africa and the largest single private investment in Senegal’s history.

The nearby port of Dakar is credited with boosting Senegal’s GDP growth by 10%, so the new port will cement Senegal’s position as a trade center for West Africa and grow further into the next century.

Plans to expand operational capacity in Caucedo in the Dominican Republic are also progressing, while the expansion of the Callao port in Peru will become one of the largest single terminals in South America once it is completed later this year.

The UK has been another important investment destination. DP World has invested £2 billion in the UK over the past decade, supporting thousands of jobs.

The logistics provider has earmarked an additional £1bn of investment over the next 10 years and is currently building a new £350m fourth berth at the London Gateway.

In Romania, DP World is also building new infrastructure at the Port of Constanta – including a new roll-on/roll-off (RO-RO) terminal – turning it into one of the most important freight and vehicle hubs on the Black Sea, An important gateway into Eastern European trade.

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