DP World Signs Deals for 1.2 Billion Dollars for 1.2 Indonesia Port, Logistics Park

by commitbizadmin 11, Jun 2020

DP World Signs Deals for 1.2 Billion Dollars for 1.2 Indonesia Port, Logistics Park

Dubai has established as the financial, commercial and business hub of the Middle East, extremely known for its hospitality and rich cultural heritage. Manageable business conditions and investments decisions have led to Dubai becoming one of the Gulf's fastest-growing industries in Dubai.

Dubai is known to be the dominant global transport hub for passengers and cargo. In previous years, The GDP in the UAE was worth 414.18 billion US dollars in 2018.

Dubai is one of the best places to start your business as the government power and regulation of power sectors have been kept to the lowest level. The economy of Dubai has been kept free to attract investors. Also, Dubai enjoys political and economic stability as Dubai is low in crime. The UAE government has a consistent commitment to business and liberal economic policies. As Dubai is advancing with days passing by, two initial agreements between DP World and Indonesian conglomerate Maspion Group were signed on Wednesday to make to 1.2-billion-dollar container port and industrial logistics park in East Java.

The Planning of DP

The exchange of the agreements was witnessed by Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi's Crown Prince and Deputy Supreme Commander of the Armed Forces of the UAE and Joko Widodo, President of Indonesia. Two-term sheet agreement focuses on building an integrated container terminal and industrial logistics park, which is assumed to play a significant role as a trade gateway for Eastern Java.

This includes cooperation in setting up Maspion International Container Port in Gresik, East Java with a total investment of 1.2 billion and three million TEU's of the capacity utilizing electric power in its operation to help cut carbon emissions.

The project is assumed to break ground later this year, and commercial operations have been planned for the first phase of 2022.

Sultan Ahmed Bin Sulayem's View

Sultan Ahmed Bin Sulayem is the CEO, and chairman of Ports, Customs and Freezone Corporation mentioned That the partnership will be a key addition to our global portfolio and a new step in our ongoing expansion. It will also boost the continuing commitment to Indonesia, one of the most important world economies.

DP world mentioned it concluded its concession agreement at the Surabaya Container Terminal in April. The new agreement confirms a long-term strategic partnership in the economic development of the country which has been growing at a rapid speed in recent years.

Dr Alim Markus, the president director and CEO of Maspion Group, said that the collaboration is an essential development for two groups and even a new step in Maspion Group's ongoing expansion.

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The following are the advantages of why you should start a business in Dubai.

  • Legal Framework
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  • Free Zones own and also operate a hundred per cent of the business
  • Legal Structure
  • First-class infrastructure
  • Favourable Investment Atmosphere and Government Support

Company Incorporation in Dubai

As per the Federal Law, a commercial company in Dubai must have not less than fifty-one percent local equity. The law has seven categories of business organizations that are allowed to establish in Dubai. They are

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