More Foreign Investment to Expand Logistic Facilities and Freight Berth at Port of Caucedo
During their meeting in Caucedo, discussions focused on a growth plan that would attract more foreign investment to the country with approximately $400 million having already been invested in the business. DP World and its partners are looking to extend operations further by building another 400-metre berth to ensure its future as a regional trade hub. DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem, said:
“President Danilo Medina is working hard for his people and country, and the stable economy and political environment here will go a long way to attract more foreign investors. The government are also developing the legal and policy framework and we look forward to exploring opportunities to develop a host of online trade services for ease of doing business. We’ve seen first-hand the efficiencies of streamlined customs processes and electronic port community systems, like the Dubai Trade Portal at our flagship Jebel Ali Port and Free Zone.
“The Dominican Republic has tremendous potential as a logistics hub and we’re pleased to be working in partnership with the local government to maximise on these opportunities. Adding another berth at DP World Caucedo ensures we remain competitive and can serve the growing demand for our services in the region. We’re also working on expanding the logistics park in Caucedo to attract new businesses and creating an ideal platform for the Dominican Republic to develop into a major hub for trade globally.”
The Caucedo Logistics Centre is a joint venture between DP World and the Caucedo Development Corporation. DP World Caucedo is located approximately 30 minutes from the capital Santo Domingo and near to the International Airport, Free Zone Parks and Logistics Centres. Trade between Dubai and the Dominican Republic during the first half of 2017 amounted to almost AED 48.6 million.
Photo: Sultan Ahmed Bin Sulayem with President Danilo Medina and senior company and government officials during the recent visit.
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