Chinese firms to pump $ 4 b into giant UAE logistics parks

Monday, 24 June 2019 00:00 - - {{hitsCtrl.values.hits}}

It’s boom time for the UAE logistics industry with more and more Chinese companies set to invest over $ 4 billion in development of giant logistics parks in Abu Dhabi and Dubai, said a top official of National Association of Freight and Logistics (NAFL).

Founded in Dubai in 1992, NAFL is the first national association of freight forwarders to be established in the Arabian Gulf to bring together the increasing number of freight and logistics service providers in the UAE.

“Logistics business is in for a boom. Many projects are being built for Expo 2020 and Chinese investors are coming to Abu Dhabi and Dubai,” remarked NAFL President and International Federation of Freight Forwarders Associations (FIATA) Global Extended Board Vice President Nadia Abdul Aziz.

She was addressing NAFL members during its Annual General Meeting at Armani Hotel, Burj Khalifa.

“There will be large logistics parks in Jebel Ali and one near the Expo venue. One is for food processing and the other is for manufacturing and exporting. There will be a $ 4 billion investment by Chinese companies,” she stated.

Abu Dhabi will also have a huge logistics project that will boost the trading sector in the UAE, she added.

Speaking at the gathering, Abdul Aziz said the Government was working to attract foreigners to come and invest, manufacture and export in order to boost trade, which is contributing 30% to Dubai’s GDP.