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UAE maritime industry set to boost economic contribution

The UAE government expects its maritime cluster to significantly increase its contribution to the nation’s economy in the future, delegates at the inaugural Dubai Maritime Summit heard this morning.

Marcus Hand, Editor

October 27, 2014

1 Min Read
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Abdullah Belhaif Al Nuaimi, minister of Public Works and chairman of the National Transport Authority highlighted the strength of the maritime sector as a part of the UAE’s economy. The maritime cluster currently accounts for around 5% of the UAE’s economy, with an overall value of AED200bn.

The role of the maritime industry is set to increase substantially, according to the minister, “Our expectation is for its contribution to rise further, to about 25% through the establishment of national authorities and companies focused on the developing local maritime legislation, regulations, operational strategies. These entities will no doubt provide world class services related to maritime education, maritime industries, insurance, maritime funds, classification societies, shipowners and operators,” al Nuaimi told the audience.

The minister also mentioned the Emirates Maritime Arbitration Centre, and the role it is expected to play in the global maritime network by providing essential arbitration services to clients across the world.

Organised by Dubai Maritime City Authority, the Dubai Maritime Summit is the first event of Dubai Maritime Week, which includes Seatrade Middle East Maritime, 28-30 October 2014 at the Dubai International Convention and Exhibition Centre.

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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