May 18, 2020

[Comment] Dubai on Track to Become World Class Marine Hub by 2030

Leadership
UAE
Supply Chain
Sustainability
Bizclik Editor
2 min
[Comment] Dubai on Track to Become World Class Marine Hub by 2030

H.E. Sultan Bin Sulayem, Chairman of Dubai Ports, Customs and Free Zone Corporation and President of Dubai Maritime City Authority (DMCA), has underlined his confidence in Dubai Maritime Vision 2030.

The vision aims to develop, regulate and promote the local maritime industry while at the same time reinforce Dubai’s position as a world-class, premiere international maritime hub.

H.E. Sultan Bin Sulayem’s statement was given during a recent DMCA supervisory coordination meeting that showcased the latest updates and achievements in the efforts to boost Dubai’s maritime competitiveness and offer key foundations to raise the bar on the local maritime industry in line with internationally recognized standards and best international practices.

He said: “Dubai Maritime Vision 2030 is positioned as a strategic base to promote Dubai and its highly competitive maritime segment.

In fact, Dubai is as equally competent with other leading maritime and logistics centres in the Middle East and North African (MENA) region and the rest of the world. To achieve the goals set out by Dubai Maritime Vision 2030, industry players in the emirate must work closely and intensify their efforts in reaching this vision.”

“The local maritime industry is considered to be a key cornerstone in the unified efforts to drive sustainable growth and overall development in the future. It is also a major partner in the move to further enhance Dubai’s regional and international competitiveness.

“Moreover, the Dubai MSS is a key step forward in aiming to make a difference in the maritime industry and increase its contribution to the country’s GDP, which is poised to enhance its position as one of the leading value-added economical industries in Dubai, following the vision and directives set forth by H.H. Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.”

The local maritime sector recently made major leaps in terms of its direct contribution to Dubai’s GDP, which amounted to 4.6 percent or the equivalent of AED 14.4 billion.

Maritime operations, maritime engineering, ports and shipping come as leading marine components that contribute to the local economy, followed by maritime and recreational services and different offshore support services.

These components played an active role in supplying the labour market with more than 75,000 promising job opportunities to meet the demand for qualified human resources, especially in maritime operations, maritime engineering and ports, which accounted for 51 percent and 25 percent of the employment rates within Dubai’s maritime sector, respectively.

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Jun 11, 2021

G7 Summit guide: What it is and what leaders hope to achieve

G7
Sustainability
G7Summit
EU
3 min
Business Chief delves into what the G7 is and represents and what its 2021 summit hopes to achieve, in terms of sustainability and global trade

Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration. 

 

Who are the G7?

The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like. 

The merry band comprises:

  • Canada
  • France
  • Germany
  • Italy
  • Japan
  • The United Kingdom
  • The United States

Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.

 

Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda. 

 

When was the ‘G’ formed?

Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s. 

 

Why does the G7 exist?

At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted. 

 

The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability. 

 

It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations. 

 

Where is the 2021 G7 summit?

This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall. 
 

What will be discussed this year? 

After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”

 

The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values. 

 

According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.” 

 

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