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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAEand Ruler of Dubai, announcedthe development of the Logistics Hub for Foodstuffs, Fruit and Vegetable Trade, the largest such facility in the world, serving the world’s largest market for foodstuffs, fruits and vegetables.
This initiative aligns with the emirate's strategies to enhance investment and economic opportunities, thus contributing to the goals of the Dubai Economic Agenda D33, which aims to double the size of Dubai's economy and transform it into one of the top three economic cities globally by 2033. The project also aims to improve quality of life for Dubai's residents and enhance the city's overall attractiveness and livability.
Sheikh Mohammed bin Rashid said,“Today, we have launched our plan to develop the largest logistics hub in the world for the trade of foodstuffs, fruits and vegetables. This expansion and doubling of the current market area will support our economic agenda and create larger commercial and investment opportunities. We have entrusted DP World with the management, operation, and development of the market, linking it with markets globally.”
His Highness added:“Dubai's strategic location and advanced facilities make it a commercial and investment hub that attracts major companies. Our efforts will double in the coming period to enhance the emirate's role in creating investment opportunities for global companies and youth, integrating them into developmental projects. Dubai aims to be a leading destination for markets, export, and re-export operations across various sectors, maximising economic opportunities for investors in this field.”
In line with His Highness's directives and under the supervision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Ministerand Minister of Finance of the UAE, witnessed the signing of a partnership agreement between Dubai Municipality and DP World. This agreement marks the creation and management of the ‘Foodstuffs, Fruits and Vegetables Market,’ set to be the largest of its kind globally. The agreement was signed by His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and His Excellency Dawood Al Hajri, Director General of Dubai Municipality.
Strategic partnership
Sheikh Maktoum emphasised that Dubai is advancing under the vision of Sheikh Mohammed bin Rashid, aiming to showcase new successes in achieving the ambitious goals of the economic agenda to be among the top three economic cities globally by 2033. The flexibility, efficiency, and sustainability of Dubai's economic model enhance its global attractiveness for investment opportunities.
Sheikh Maktoum stated, “The new project will create new economic opportunities and a better investment environment in this crucial food sector, supporting Dubai's D33 economic vision.”
Connecting regional and global markets
His Excellency Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, noted that Dubai is a global model for generating investment opportunities and connecting regional and global markets across various sectors of trade. He highlighted that establishing the world's largest foodstuffs, fruits and vegetables market will reinforce strong foundations of trade in this sphere across regional and global markets, particularly through novel logistical and financial solutions bound to be offered by the market.
HE Bin Sulayem added:“Due to its strategic location, Dubai has become a global market for food trade, especially fruits and vegetables. This sector is witnessing increasing growth in both local markets and exports, indicating immense opportunities that can be leveraged through strategic projects that Dubai continues to develop. Establishing and expanding the Foodstuffs, Fruits and Vegetables Market and launching its pioneering solutions will all act as a strong driver to maximise the benefits of this sector's growth in achieving Dubai's economic goals.”
Enhancing Dubai's commercial appeal
His Excellency Dawood Al Hajri, Director General of Dubai Municipality, stated that the agreement to establish and manage the Foodstuffs, Fruit and Vegetable Market reflects Dubai's constant efforts to enhance its competitiveness and its attractiveness as a place to invest, live, and work in.
He added that the agreement is part of Dubai's vision to develop markets, improve the quality of life for the community, and establish the emirate as an international tradehub by offering innovative solutions to boost investment opportunities and unlock new business horizons.
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