DUBAI / WAM
DP World has invested more than $10 billion (AED37.3 billion) in the global logistics sector since 2012, making it one of the top five overseas investors in this period, according to the latest foreign direct investment (FDI) data released by leading industry consultants.
The FT’s FDI Intelligence recently published its top five list for 2022, which ranks DP World fifth in the world by total value of direct investments allocated to the overseas logistics services sector.
DP World’s investments over the past year totalled $320 million (AED1.18 billion) despite demand for logistics services stalling as the global economy slowed. 2023 forecasts expect single-digit demand growth in the industry.
Other firms in the top five include US giant Amazon and AP Moller Maersk from Denmark. DP World is the only firm in the top five based outside the US or Europe.
Commenting on the ranking, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, said: “The data shared by FDI Intelligence demonstrates where we stand globally within the logistics sector, not only in the last year but consistently over the last 10 years.”
“DP World’s companies touch people’s lives around the world every day. Sometimes it is tangible, and sometimes we are in the background making sure people and businesses get the goods they require. Our infrastructure opens untapped trade opportunities, grows economies and makes goods more affordable. Investing in developing economies helps trade go further, facilitates economic growth, attracts foreign investment and generates thousands of jobs – raising the quality of life for everyone.”
The latest “Trade in Transition” study in January, commissioned by DP World and led by Economist Impact, revealed the emergence of major shifts in globalisation, as companies rushed to move manufacturing closer to home to protect against supply chain disruptions while increasingly protectionist policies are breaking the world into trade blocs. Its key finding is that 96 percent of companies are making changes to their supply chains due to geopolitical events.
One of the company’s key priorities in 2022 was to broaden its partnerships to unlock this trade potential. DP World enhanced its relationship with India’s National Infrastructure Investment Fund (NIIF) to raise approximately $300 million (AED1.1 billion) and created a new investment platform with the British International Investment Group to accelerate investment in Africa.