Africa needs to revamp transportation for economic development: DP World CEO

Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African counterparts, said Sultan Bin Sulayem, CEO of DP World Group.
Speaking at a session of the Global Business Forum Africa in Dubai, Bin Sulayem said that for trade links to flourish, African countries would need to provide opportunities for businesses by enacting legislation, laws and policies.
Providing logistical services, finance and infrastructure will enable African countries to attract major investments, he said and added that ports could spur economic growth in stimulating prosperity and increasing investment.
He cited the example of Dubai’s ports, which contribute significantly to the UAE’s GDP and create many job opportunities on top of being gateways to markets around the world.
“The important thing is to use ports to support the continuous development of business and the search for innovative ideas that contribute to the transition to a new era of recovery and prosperity,” he said.
Besides seeking to build partnerships, Dubai and has important experience in expanding in Africa, he said.
Bin Sulayem said Dubai seeks to transfer its wealth of experience to help develop business in Africa and to contribute to achieving economic growth in the continent’s countries.
“Dubai is committed to expanding its presence in Africa because of all the ingredients it possesses that stimulate the building of sustainable companies,” he said.
“In Dubai, we are very optimistic about building the best relations with African countries but what Africa needs today is transparency, governance and the provision of transportation networks to encourage the private sector, spur investments and make profits.”
He called upon African countries to reduce the cost of transportation and the complexities in supply chains, with the provision of financing that encourages increased investments and contributes to achieving economic growth.