Dubai’s DP World to manage Uzbekistan’s Navoi free zone
Another UAE company, Terminals Holding, will manage the cargo terminal of the Navoi international airport, Uzbek President Mirziyoyev’s office said in a statement
Dubai-owned ports giant DP World will manage a logistics-focusedfreeeconomiczoneinuzbekistan’s southeastern Navoi province, Uzbek President Shavkat Mirziyoyev’s office said late on Friday.
Another UAE company, Terminals Holding, will manage the cargo terminal of the Navoi international airport, Mirziyoyev’s office said in a statement.
DP World already manages a free zone in neighbouring Kazakhstan set up at a railway hub on the later’s border with China.
DP World is also expanding its operations in China by signing a Memorandum of Understanding (MOU) to support logistics and trade development at the Lin-gang Special Area, a free trade zone in Shanghai.
The MOU was signed recently with Shanghai Lin-gang Economic Development Group (Lin-gang Group) at a virtual ceremony.
DP World will work with the Lin-gang Group and deploy the World Logistics Passport (WLP) programme, a global, private sector-led, initiative designed to smooth the flow of global trade, unlock market access through the creation of new trade routes and provides economic efficiencies to members. The WLP will provide Chinese businesses with faster and more cost-efficient access to markets in Asia, Latin America, the Middle East and across Africa.
At the same time, DP World will share its experience from Jafza, its flagship freezone in the UAE. Combined with the Jebel Ali Port, Jafza forms a world-class, integrated ecosystem for over 9,000 companies from around the world, serving more than 3.5 billion people globally by connecting directly to 150 ports and more than 180 shipping lanes.
The Lingang Special Area offers some of the most innovative and forward-looking business policies for both Chinese and international companies beyond normal free zones offerings. There are currently more than 40,000 corporations registered in Lin-gang, including Tesla which operates a Model 3 factory, China International Maritimecontainers(cimc),chinastateshipbuilding Corporation (CSSC), Caterpillar, and Commercial Aircrat Corporation of China (COMAC). Its strategic position in southeast Shanghai makes it an important node for Shanghai coastal thoroughfare with access to waterways, air routes, railways, highways, inland rivers and the subway.
The MOU aims to benefit customers in both freezones.
As part of the agreement, Lin-gang will invite leading enterprises in the Yangtze River Delta to jointly promote the WLP to benefit from the innovative policies and offerings from this programme.
The inclusion of China in the WLP strengthens the programme’s position across Asia with Hubs in India, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Chinese traders and freight forwarders who become Members of the WLP will have access to the different benefits offered by WLP Partners, who include DP World, Thai Airways and Emirates Skycargo. Example benefits include fast-tracking of cargo, reducing customs clearance times, and removing administrative costs.
DP World has signed a lease and collaboration agreement with Uae-based food producer IFFCO, for an edible oil packing plant in the Berbera Economic Zone (BEZ) in Somaliland.
I ff co’ s subsidiary, i ff co so mali land signed a 25 year lease with BEZ to develop a 300,000- square foot packing facility, with future expansion plans covering another 300,000 square feet. Once complete, the first phase of the edible oil plant will create hundreds of jobs for local Somaliland citizens. Construction will start in the first half of 2023.
DP World is developing the BEZ ater investing in the Port of Berbera to create an integrated maritime, logistics, and industrial hub to serve the Horn of Africa, a dynamic, ever-evolving region with a population of more than 140 million people, with a strategic location along major trade sea lanes and land routes.
Dp world announced recently that it has handled 59.6 million TEU (twenty-foot equivalent units) across its global porfolio of container terminals in 9M2022, with gross container volumes increasing by 2.0% year-on-year on a reported basis and up 2.5% on a like-for-like basis.
On a 3Q 2022 basis, DP World handled 20.1 million TEU, up 1.5% year-on-year and up 2.1% on a like-for-like basis.
3Q 2022 gross volume growth was mainly driven by Asia Pacific, Middle East & Africa, Americas, and Australia with a strong performance from Qingdao (China), ATI (Philippines), LCIT (Thailand), Jeddah (Saudi Arabia), Vancouver (Canada), Posorja (Ecuador), Santos (Brazil), and Australia. Jebel Ali (UAE) handled 3.5 million TEU in 3Q2022, up 2.0% year-on-year.
DP World has teamed up recently with with Emirates Development Bank (EDB), signing a Memorandum of Understanding to provide small and medium-sized enterprises (SMES) access to trade financing through DP World’s trade finance plaform. It includes a formal framework for EDB and DP World to provide SMES with access to trade financing at competitive rates via DP World’s trade finance plaform.
Both parties will also focus on developing joint thought-leadership and outreach programmes and providing financial solutions to support SMES’ business growth. Despite being a vital component of global trade, SMES oten encounter challenges with cross-border transactions, supply chain disruptions, and rising raw material costs.