Dubai: DP World, the Dubai-based ports operator, said it is looking to expand its operations in the Dominican Republic by building another 400-metre berth to ensure its port there is a regional trade hub.
In a meeting between Sultan Bin Sulayem, DP World Group chairman and chief executive, and Dominican Republic President Danilo Medina, discussions focused on a growth plan that would attract more foreign investment into the country.
The two were discussing the expansion of DP World’s Caucedo port operations, including its logistics part and quay side facilities. Around $400 million have already been invested in the business.
“The government is also developing the legal and policy framework, and we look forward to exploring opportunities to develop a host of online trade services for ease of doing business,” Bin Sulayem said in a statement.
He added that the Dominican Republic has “tremendous potential” as a logistics hub, and that adding another berth at DP World Caucedo ensures the company can serve the growing demand for its services in the region.
“We’re also working on expanding the logistics park in Caucedo to attract new businesses and creating an ideal platform for the Dominican Republic to develop into a major hub for trade globally,” Bin Sulayem said.
DP World had earlier said it is planning to focus on regions that include Latin America, Africa, and Russia where the company sees growing opportunities. Bin Sulayem earlier said Latin America “remains an interesting proposition and opportunity for expansion.”
