Dubai-based DP World reiterates commitment to invest $1 billion in Bangladesh
Dubai-based multinational logistics company DP World will invest $1 billion in Bangladesh's supply chain infrastructure, including ports, rail network and inland container terminals.
The investment will be made under the government-to-government agreement signed in 2019 for public-private participation on infrastructure projects.
The assurance of fulfilling the commitment came from the company when a high-level delegation from Bangladesh government led by State Minister for Shipping Khalid Mahmud Chowdhury visited the DP World Pavilion at the Expo 2020 Dubai during November 21-23, the company said in a statement.
The delegates met with Sultan Ahmed bin Sulayem, group chairman and CEO of DP World; Mohammed Al Muallem, executive vice president for the Office of the Chairman of DP World; and Rizwan Soomar, CEO and managing director, DP World Subcontinent, and other officials of the company.
The Bangladeshi team also included Sultana Afroz, secretary and chief executive officer for Public-Private Partnership Authority under the Prime Minister's Office; Mohammed Mezbah Uddin Chowdhury, shipping secretary; and Rear Admiral M Shahjahan, chairman of Chattogram Port Authority, along with other senior government officials.
They also took a tour of the DP World Flow Pavilion, which demonstrates how trade shapes the world today and in the future.
The pavilion further reflects the connectivity and movement of cargo around the globe and highlights the vital role of smarter trade in the global economy.
The delegates were also briefed on DP World's range of products and services, which covers every link of the integrated supply chain – from maritime and inland terminals to marine services and industrial parks, as well as technology-driven customer solutions.
They witnessed a demonstration of BoxBay, the new intelligent High Bay Storage system, toured the Jebel Ali Free Zone and visited the DP World Cruise Terminal.
Visitors to the five-floor DP World Flow pavilion, which has four main galleries had an opportunity to explore the movement of commerce around the world that drives the global economy.
The pavilion's FlowLive event programme brings together leaders of governments and commerce to shape the future of world trade, while its education programme seeks to inspire young people to join the logistics industry.