The emirate aims to boost its attractiveness as a trade hub with the creation of the Foodstuffs, Fruit and Vegetable Market, set to be twice the size of Dubai’s current market
Dubai has announced the development of the Foodstuffs, Fruit and Vegetable Market, which is set to be the largest such facility in the world, enhancing Dubai’s attractiveness as a trade hub.
The initiative, revealed by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, is part of the emirate’s strategy to boost investment and economic opportunities.
Dubai Municipality and DP World have teamed up to develop the project, which will see the current size of Dubai’s fruit and vegetable market double and include links to global markets.
Sheikh Mohammed bin Rashid commented: “Today, we have launched our plan to develop the largest logistics hub in the world for the trade of foodstuffs, fruits and vegetables. This expansion and doubling of the current market area will support our economic agenda and create larger commercial and investment opportunities. We have entrusted DP World with the management, operation, and development of the market, linking it with markets globally.”
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, first deputy ruler of Dubai, deputy prime minister and minister of finance of the UAE, said: “The new project will create new economic opportunities and a better investment environment in this crucial food sector, supporting Dubai’s D33 economic vision.”
The Dubai Economic Agenda, D33, aims to double the size of Dubai’s economy and transform it into one of the top three economic cities globally by 2033.
His Excellency Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, pointed out that Dubai’s strategic location had enabled it to become a global market for food trade, especially fruits and vegetables.
“This sector is witnessing increasing growth in both local markets and exports, indicating immense opportunities that can be leveraged through strategic projects that Dubai continues to develop,” he said. “Establishing and expanding the Foodstuffs, Fruit and Vegetable Market and launching its pioneering solutions will all act as a strong driver to maximise the benefits of this sector’s growth in achieving Dubai’s economic goals.”
His Excellency Dawood Al Hajri, director general of Dubai Municipality, said the new market development reflected Dubai’s constant efforts to enhance its competitiveness and attractiveness as a place to live, work and invest in.
