DMCA pushes Greek investment in Dubai maritime sector
Dubai Maritime City Authority (DMCA), the government authority charged with regulating, coordinating and supervising all aspects of Dubai’s maritime sector, has concluded a special seminar for the major ship owning and operating companies of Greece.
The seminar was part of the DMCA’s efforts to promote the local maritime sector’s competitiveness globally and highlighted Dubai’s emergence as one of the world’s leading maritime clusters, showcasing the most prominent investment opportunities available within its maritime sector as well as the numerous benefits it offers to the Greek companies working in the sector.
The seminar was held in cooperation with Vardikos & Vardikos, a Greek international law firm based in Athens, and Al Tamimi & Company, the largest law firm in the Middle East. The gathering provided an overview of Dubai’s plans to become a maritime haven along with its potential for the Greek maritime companies planning to establish or expand their operations in the emirate.
“Since launching its Maritime Sector Strategy (MSS) in 2012, Dubai has firmly strengthened its position as the Middle East’s top maritime hub,” said Amer Ali, executive director, Dubai Maritime City Authority. “Dubai has achieved tremendous success in laying out world-class infrastructure and services, upholding the sector’s sustainable development, and introducing business-centric regulations.”
“Our seminar in Greece was a prime opportunity for us to showcase the strengths of Dubai’s maritime sector and inform participants about how the world’s shipping players can enjoy even more growth through our exceptional maritime expertise and resources,” he added.
Among the specific topics that were covered were Updates on Maritime Legislation in Greece; An Introduction to Dubai’s Maritime Sector; An Overview of Dubai’s Maritime Strategy; The Viability of Greek Shipping Companies Doing Business With Dubai; The Nature of Maritime Claims in the UAE; and The Best Practices in Setting Up Local Business.
“The challenges experienced by the Greek economy are currently putting extreme pressure on the country’s ship owners to work innovatively to find alternative solutions and new investment opportunities for the advancement of their work to achieve diversity in their income resources,” explains Nawfal Al Jourani, director of communications, DMCA. “This is where the role of Dubai’s maritime sector comes in, with its abundant investment possibilities for ship owners and operators in Greece. We are confident that this meeting is an important platform to further strengthen maritime ties between Dubai and Greece and plan for mutually beneficial partnerships moving forward.”
Given their high maritime stature, Dubai and Greece are ideal partners for identifying and pursuing prime opportunities in international shipping.
Greece currently has the third largest marine merchant fleet in the world and the industry is Greece’s leading industry, while Dubai will be among the world’s top seven leading maritime centres over the next five years, according to a recent international survey by Menon Business Economics Group.