Latest news with #TradeHub
Gulf Business
2 days ago
- Business
- Gulf Business
DP World signs $800m deal to redevelop Syria's Port of Tartus
DP World has entered into a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus. The deal, structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, aims to modernise the port's infrastructure and reestablish Tartus as a vital trade hub connecting Southern Europe, the Middle East, and North Africa. Under the agreement, The agreement was signed in Damascus in the presence of His Excellency Ahmed Al-Sharaa, President of the Syrian Arab Republic, by Sultan Ahmed bin Sulayem, chairman and group CEO of DP World, and Qutaiba Ahmed Badawi, chairman of the General Authority for Land and Sea Ports. Sultan Ahmed bin Sulayem, chairman and group CEO of DP World, said: 'This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains. We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.' Qutaiba Ahmed Badawi, chairman of Syria's General Authority for Land and Sea Ports, added: 'This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector. Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people. The agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets and it will pave the way for sustainable growth for years to come.' Read: Trade routes Strategically located on Syria's Mediterranean coast, Tartus is the country's second-largest port and plays a critical role in connecting trade routes to Europe, the Levant, and North Africa. The redevelopment is expected to significantly boost Syria's trade potential, enabling the port to handle a wider variety of cargo including general cargo, containers, breakbulk, and roll-on/roll-off traffic. DP World also plans to explore opportunities for developing free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders. These initiatives aim to support Syria's economic recovery and diversification efforts. With operations in more than 75 countries and over 9.2 per cent of global container traffic handled through its network, DP World brings more than 40 years of experience in global logistics development. The Tartus project builds on the company's growing portfolio and reinforces its presence in the Middle East.
Emirates 24/7
3 days ago
- Business
- Emirates 24/7
DP World to develop Syria's Tartus Port under landmark 30-year deal
DP World has signed a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus. As part of the agreement, DP World will invest $800 million over the duration of the concession to upgrade the port's infrastructure and position it as a critical regional trade hub connecting Southern Europe, the Middle East and North Africa. The agreement was signed in Damascus in the presence of His Excellency Ahmed Al-Sharaa, President of the Syrian Arab Republic, by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of General Authority for Land and Sea Ports. Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic reintegration. Structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port's container and general cargo terminals. Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, said: 'This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains. We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.' Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Land and Sea Ports, said: "This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector. Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people. The agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets and it will pave the way for sustainable growth for years to come." Located on Syria's Mediterranean coast, Tartus is the country's second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa. Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez. The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria's trade potential as the country continues to rebuild. DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts. With a presence in over 75 countries and 9.2% of global container traffic flowing through its ports and terminals, DP World brings over four decades of experience in developing logistics infrastructure around the world. The Tartus project adds to its growing portfolio and complements existing operations in the Middle East.
Zawya
3 days ago
- Business
- Zawya
DP World to develop Syria's Tartus Port under landmark 30-year deal
DAMASCUS: DP World has signed a 30-year concession agreement with Syria's General Authority for Land and Sea Ports to develop and operate the Port of Tartus. As part of the agreement, DP World will invest $800 million over the duration of the concession to upgrade the port's infrastructure and position it as a critical regional trade hub connecting Southern Europe, the Middle East and North Africa. The agreement was signed in Damascus in the presence of Ahmed Al-Sharaa, President of the Syrian Arab Republic, by Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, and Qutaiba Ahmed Badawi, Chairman of General Authority for Land and Sea Ports. Following over a decade of conflict and long-standing underinvestment in trade infrastructure, the redevelopment of Tartus marks an important step in Syria's economic reintegration. Structured as a Build-Operate-Transfer (BOT) model and fully owned by DP World, the project will include new infrastructure, advanced cargo-handling equipment, and digital systems to improve efficiency across the port's container and general cargo terminals. Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, said, 'This agreement reflects our long-term commitment to enabling global trade and creating resilient supply chains. We see strong potential in Tartus to serve as a vital trade gateway and look forward to strengthening regional connectivity and economic opportunity through this investment. We believe in the power of trade to help drive long-term stability and prosperity for Syria and the region.' Qutaiba Ahmed Badawi, Chairman of Syria's General Authority for Land and Sea Ports, said, "This agreement marks an important step forward for the Port of Tartus and Syria's maritime sector. Partnering with DP World will allow us to modernise and strengthen the efficiency of our trade infrastructure as we continue to rebuild key trade lanes, support the national economy and provide more opportunities for the Syrian people. The agreement reflects our shared vision to transform Tartus into a strategic gateway linking Syria with regional and international markets, and it will pave the way for sustainable growth for years to come." Located on Syria's Mediterranean coast, Tartus is the country's second-largest port and a key maritime gateway to trade routes across Europe, the Levant and North Africa. Its strategic position enhances regional connectivity, complementing existing routes through the Bosporus and Suez. The redevelopment will enable Tartus to handle general cargo, containers, breakbulk, and roll-on/roll-off traffic, expanding Syria's trade potential as the country continues to rebuild. DP World will also explore opportunities to develop free zones, inland logistics hubs, and transit corridors in partnership with local stakeholders, supporting broader economic diversification and trade facilitation efforts. With a presence in over 75 countries and 9.2% of global container traffic flowing through its ports and terminals, DP World brings over four decades of experience in developing logistics infrastructure around the world. The Tartus project adds to its growing portfolio and complements existing operations in the Middle East.
Zawya
11-06-2025
- Business
- Zawya
Dubai Customs named Best Customs Authority in the Middle East 2025
Abdulla Busenad: We are strengthening Dubai's leading position on the global trade map Dubai – In a milestone achievement that reflects its unwavering commitment to excellence, leadership, and innovation—while supporting the nation's ambitious vision—Dubai Customs has been awarded the "Customs Authority of the Year 2025" at the Middle East level, as part of the Middle East Transport and Logistics Awards (TLME). This accolade was earned after receiving the highest number of votes from specialists and experts in the customs and logistics sectors via an electronic voting system. Today, Dubai Customs stands as a global benchmark for implementing the latest digital transformation technologies, with nearly 99.7% of its customs transactions conducted through digital platforms. This high level of digitalization has significantly accelerated procedures, reduced clearance times, and facilitated seamless and transparent trade flows—fully aligned with Dubai's vision and its competitiveness as a strategic global trade hub. Additionally, the Department has developed an advanced security system capable of detecting and preventing smuggling attempts and customs fraud, thereby strengthening the protection of society and the national economy. On this occasion, His Excellency Dr. Abdulla Busenad, Director General of Dubai Customs, emphasized that this accomplishment adds to the Department's extensive record of achievements. Recently, Dubai Customs also received the award for the Best Pioneering Initiative for its Cross-Border E-Commerce initiative, under the "Hamdan bin Mohammed Government Services Program." Continuing its strategic plan, the Department is dedicated to reinforcing Dubai's position as a leading global center for international trade and logistics. This supports the goals of Dubai's Economic Agenda D33 and drives future transformations in the global trade sector through the innovation and development of advanced customs services that leverage cutting-edge technology and artificial intelligence. Dr. Busenad further highlighted that Dubai Customs is committed to ongoing improvement and development by providing all the necessary elements and capabilities to increase Dubai's foreign trade volumes. This commitment ensures an exceptional experience for businesses and sectors, boosting returns on their commercial activities and attracting further foreign investments to this vital sector. Meanwhile, Eng. Adel Al Suwaidi, Director of Customs Valuation at Dubai Customs, who received the award during the ceremony, stated: 'Dubai Customs has made significant strides in automating customs procedures and reducing the time required to complete transactions. We have developed services that are among the first of their kind worldwide. The 'Seamless Inspections' project launched by the Department represents a qualitative leap in customs operations by relocating inspection procedures to an integrated system at company warehouse premises. This innovation has contributed to cutting inspection times by more than 50%.' The TLME Awards were established with a vision to transform the traditional business awards model. What sets TLME apart is its commitment to transparency, credibility, and genuine recognition from within the industry. It was among the first organizations to adopt a public electronic voting system in this field, ensuring an open and fair selection process.
