In a bid to strengthen ties between the UAE and the Maldives, global marine terminal operator DP World has signed a Memorandum of Understanding (MoU) with Maldivian government officials in Dubai for the development of the archipelago’s port and logistics industry.
Sultan Ahmed bin Sulayem, Chairman of DP World, said: “The Maldives has been growing rapidly, driven largely by its tourism development. We are working with them to help diversify the economy through building infrastructure, logistics and transport links needed to make this happen.
“The UAE has much experience and expertise in this area thanks to the vision of our leaders to explore new growth strategies. We are proud to share our expertise with the Maldives as they develop their capabilities in the global supply chain industry.”
The signing of the MoU is a result of several meetings over the last few months between DP World and the Maldivian government. These include discussions between Sultan bin Sulayem and the President of the Maldives HE Abdulla Yameen Abdul Gayoom in July and September 2014.
This move to develop ports in the Maldives is an example of DP World’s pledge to spend between US$1.4bn and $1.9bn in 2015 in an effort to expand its global business portfolio.
