Chinese firms to invest over $4b in UAE logistics sector
Logistics projects being built in Dubai, Abu Dhabi
Dubai: Chinese companies are set to invest over $4 billion (Dh14.6 billion) in logistics projects in Dubai and Abu Dhabi, according to the president of National Association of Freight and Logistics (NAFL).
Projects are being built for the Expo 2020, with a logistics park coming to Jebel Ali and the Expo venue. One will be for food processing and the other for manufacturing and exporting.
“Logistics business is in for a boom. Abu Dhabi will also have a huge logistics project that will boost the trading sector in the UAE,” said Nadia Abdul Aziz, president of the NAFL.
Addressing NAFL members during its annual general meeting, Abdul Aziz said the government is working to attract foreigners to come and invest, manufacture and export in order to boost trade, which contributes 30 per cent to Dubai’s gross domestic product.
Discussing the logistics industry, she said there is consolidation taking place as well as more e-commerce movements and distribution.