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Sun 22 Mar 2015 03:17 PM

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Dubai's DP World inks deal to develop Maldives ports industry

Port operator signs agreement with Maldivian gov't; to help build logistics and transport links in archipelago

Dubai's DP World inks deal to develop Maldives ports industry

Dubai-based port operator DP World said on Sunday it has signed an agreement with the Maldivian government to develop the archipelago's ports and logistics industry.

Following months of talks, a memorandum of understanding has been signed which could potentially see an international port being developed in the Indian Ocean archipelago.

It was reported in 2013 that DP World was in talks to build an international port in the Maldives through a joint venture with the government.

The latest meeting was attended by a Maldivian government delegation including Minister of Tourism Ahmed Adeeb, Minister of Economic Development Mohamed Saeed and Minister of Youth and Sports Mohamed Maleeh Jamal, and DP World chairman Sultan Ahmed Bin Sulayem.

Bin Sulayem said: "The Maldives has been growing rapidly, driven largely by its tourism development. We are working with them to help diversify the economy through building infrastructure, logistics and transport links needed to make this happen.

"The UAE has much experience and expertise in this area thanks to the vision of our leaders to explore new growth strategies. We are proud to share our expertise with the Maldives as they develop their capabilities in the global supply chain industry."

The signing of the MoU is a result of several meetings over the last few months between DP World and the Maldivian government. These include discussions between Bin Sulayem and the President of the Maldives, Abdulla Yameen Abdul Gayoom, in July and September 2014.

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