Dubai, UAE — Qatar Chamber has underscored Qatar’s significant strides in the transport sector, positioning the nation as a formidable player with a $9.9 billion market investment. This achievement has propelled Qatar to claim the second-best spot in the region for logistics efficiency.
Eng. Ali bin Abdullatif Al Misned, a board member of Qatar Chamber and Chairman of FIATA Qatar, highlighted Qatar’s strategic location in the heart of the Middle East, providing access to key markets.
At the recently concluded ‘Global Freight Summit 2023’ in Dubai, themed ‘Making the Future Supply Chain a Reality,’ Al Misned emphasized that Qatar’s strategic investment has leveraged its position in the logistics domain.
With over 2 billion people residing within 3000 kilometers range of Qatar, the country boasts easy access to Hamad International Airport and the globally acclaimed Hamad Port, strategically located near free zones in various fields.
Al Misned disclosed that Hamad Port, with over 15 direct shipping lines connecting to 40 ports across three continents, has an annual capacity of 7 million tons. The port handles 1 million tons of grain and facilitates the shipment of 500,000 cars and livestock. Notably, Hamad Port holds the Guinness World Record for being the world’s deepest artificial basin.
Highlighting the significance of Hamad International Airport, Al Misned stated that it manages over 220 thousand flights annually, transporting more than 35 million passengers and 2 million tons of cargo to 54 destinations worldwide. He emphasized that Qatar’s key initiatives align with the transformation of the GCC logistics and warehousing market, presenting promising investment opportunities for foreign investors.
The Chamber’s commitment to prioritizing future supply chains was reaffirmed by Al Misned. The organization aims to promote this concept within the Qatari business community, encouraging adherence to its principles. Recently elected as a member of the International Federation of Freight Forwarders Associations (FIATA), the Chamber solidifies its role on the global stage.
Al Misned pointed out the global logistics market’s value at $7.98 trillion in 2022, expected to reach $18.23 trillion by 2030, with a Compound Annual Growth Rate (CAGR) of 10.7 percent. He emphasized the Arab Gulf region’s pivotal role in global shipping and logistics.
Addressing challenges in the logistics sector, Al Misned highlighted issues such as diverse legislation, laws, and regulations hindering international investment. The varying quality of infrastructure across countries poses challenges to the smooth provision of logistics services.
Legal disputes in the freight industry have surged to their highest level in seven years, according to a report by the Financial Times. Al Misned also noted challenges like the increasing demand for green logistics, geopolitical tensions leading to protectionist measures, affecting shipping operations and global supply chains, and a noted decline in demand for global shipping.