I take this opportunity to congratulate the leadership of the UAE for bringing this win home. I also thank them for creating such a great opportunity for us all – nationals, expatriates and the region’s business community as a whole.
Beyond enhancing the local economy, the opportunity to host EXPO 2020 will underline the fact that Dubai has become a central pivot in international trade and a natural meeting point between nations.
The point of focus is shifting eastwards to a region that has seen some of the greatest changes in the past 50 years. Our country will build on its reputation in international arenas and reinforce its standing as an icon for determined success.
The UAE is becoming the Middle East’s top trading economy, with a fiscal surplus of $11 billion in 2011. It is rapidly becoming the Middle East’s regional economic powerhouse – a dynamic hub for global commerce and the link between East and West.
In no small measure this is due to its heavy investments in infrastructures ranging from transport to tourism, connectivity and ICT. It is one of the fastest-growing ICT markets in the world, with Internet penetration reaching 85% and 170 mobile subscriptions per 100 inhabitants in 2012. Few other countries match these levels.
In preparation for Expo 2020, Dubai will invest almost 6 billion Euros (US $8.1 billion) on infrastructure projects. Together with private sector investments that are expected to surpass this figure, the total investment figure is likely to exceed US$20 billion. This will further reinforce Dubai’s position as the region’s predominant hub for commerce, tourism and trading.
EXPO 2020 promises to be an exciting time that shows the world the benefits of true cooperation and sharing on the highest levels. We at Mohebi Logistics are proud to play our part in the development of Dubai World Central and further enhance the 3PL capabilities of the UAE in the private sector.