Success of Emirati companies in Latin America
The Dubai Chamber of Commerce has just hosted the 4th edition of the Americas Global Business Forum and it has been a great success. It is an event that explores new business avenues, as well as boosting economic development between the United Arab Emirates, Latin American countries and the Caribbean region.
During the meeting, the commitment of some Emirati companies operating in the area was highlighted. Among them is DP World, a multinational logistics company that operates mainly in airport terminals and port entrances. Its chairman and CEO, Sultan Ahmed bin Sulayem has highlighted the importance of its business globally and, above all, the operations carried out in the Americas.
"Today we handle 75 million containers worldwide and in value that's almost 11% of all trade in dollars. That's three and a half billion dollars of cargo moving through our terminals around the world every year. That's $400,000 worth of cargo every hour, 24 hours a day, seven days a week, 365 days a year," he told the Forum.
"Latin America is an extremely important market for us. We are a customer-oriented company, so we will invest where the customer needs our service. We are in Caucedo in the Dominican Republic, both with industrial park logistics and port operations. We are also in Santos in Brazil, in Argentina, in Peru, in Ecuador, in Suriname and elsewhere. And, of course, we are also in Chile with two ports and a logistics operation".
The director was also keen to praise the progress his company has made over the years. He said that, thanks to the evolution of the business, it is enabling larger and more profitable operations. DP World is now able to expand its services and Bin Sulayem confirms that this is due to improved efficiency in port operations and in ensuring strong and reliable supply chains.
"DP World started as a port operator; today we are a logistics facilitator. We don't just do port operations, we do a lot of other activities in the supply chain. And the supply chain is the most inefficient business in the world today, one that has never been disrupted," the DP World CEO added.
Another point he made was the consequences of the COVID-19 pandemic. He says that, for his company, the customer is part of the success achieved over the years, but that even so, they have been able to overcome this obstacle. "When the pandemic hit, we were limited in the way we could interact with our customer, so we accelerated our investment in digital platforms like CARGOES. This is the backbone of our communication with customers, where key people can book in cargo, they can ask for trade finance and they can receive many services through our work," Bin Sulayem said.
Another such platform created to address the problem of avoiding physical contact in any transaction for fear of contagion has been the Digital Freight Alliance. It serves as a bidding hub, where shippers bid on demand. "With this, what we are trying to say to all customers who rely on our service is that we put them in the driver's seat in the supply chain," he said.
Bin Sulayamen concluded his presentation by stating that investment in Latin America is warranted and, over time, has allowed them to remove the obstacles and problems that made it difficult for them to reach the customer.
This year's conference is based on three key pillars: reform, empower and grow, with the main objective of examining the changing business dynamics of South America as it undergoes economic reforms. The council is also organised in partnership with Dubai Expo 2020 and is framed under the theme "Towards a Resilient Future". Sheikh Mohammed bin Rashid al-Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is the main sponsor of this event.
Americas Coordinator: José Antonio Sierra.