Dubai: Al Maktoum International and Dubai World Central will increase the global and regional connectivity of Dubai and its international competitiveness, a leading economist has said.
“New mega-cities are emerging in Asia and Africa, and Dubai is well located to be a global hub linking these new cities and their economies,” Dr Nasser Saidi, former Chief Economist of the Dubai International Financial Centre (DIFC), said in an email.
The opening of Dubai’s newest airport at Dubai World Central on Sunday was hailed as a “historic moment” by Dubai Airports Chief Executive Officer Paul Griffiths as the emirate joined a list of cities with multiple international airports.
Al Maktoum International is integrated into the Dubai World Central master plan that includes commercial, residential, and logistic clusters and is located near Jebel Ali Free Zone (Jafza).
The customs free land link between the airport and the free zone means that goods including raw materials and semi-processed can be transported by sea, land or air. Saidi, who is also Founder & President of economic advisory Nasser Saidi & Associates, said the benefit was that these goods could easily be transformed and value added before being exported.
“The financing of the goods an services passing through DWX and Jafza means business for commercial banks but also fuels organised financial markets such as the DME (Dubai Mercantile Exchange) and DMCC (Dubai Multi Commodities Centre).
The development of the eight districts within DWC will demand certain skills and talents for the site to have a significant economic contribution.
Saidi said DWC will need to attract specialised firms from the transport, logistic, manufacturing, and industry sectors. He suggested that Dubai World Central could benefit from developing a transport and logistic institute that would develop the necessary human resources.
While the site is some years away from completion Saidi said the gradual roll-out of was “appropriate”.
“Given the nature of the investments we can expect a growing impact over the next 10 to 15 years, with the initial impact in the construction sector, trade and related services,” Saidi said.