Dubai’s position as a world-class, premier international maritime hub received a strong boost on Monday as a latest survey released by the Xinhua-Baltic International Shipping Centre Development (ISCD) Index ranked the emirate among top five globally. The top five international shipping centres in 2022 are Singapore, London, Shanghai, Hong Kong and Dubai.
Dubai’s shipping industry is ranked best in the Arab region, which is a relative newcomer in this list of predominantly centuries-old maritime centres. The UAE has heavily invested in infrastructure, which has in turn attracted business and tourism.
Dubai Maritime City announced a $38 million plan to invest in roads and infrastructure to better integrate the maritime city and attract more businesses.
Dubai offers a number of different locations in which to do business, including, free zones, industrial areas and commercial buildings. “There are number of free zones that allow 100 per cent foreign ownership of businesses. Mainland business regulations allow full foreign ownership in 122 economic activities across 13 sectors and offer 100 per cent profit repatriation,” Dubai Maritime City Authority told the Xinhua-Baltic ISCDI Report.
The 9th edition of the Xinhua-Baltic ISCD Index report produced by the China Economic Information Service, a subsidiary of Xinhua, in collaboration with the Baltic Exchange, the report ranks the top port cities and maritime centres around the world.