Blogs

UAE now aims to become an integral part of the global supply chain, after 50 years of rapid change a GDP boost of 27 billion in 1972 to 249 billion in 2014. UAE was the world’s 25th biggest economy as well as the fifth largest oil exporter. They are looking out from branching out from the market that has served it so well. They have an ‘Emirates Blockchain Strategy’, which aims to make UAE’s governments and other sectors paperless. They aim to do this by digitizing 400 million documents which save $3 billion and 77 million working hours through a digital ledger that automatically records financial transactions and bureaucracy. Dubai is a self-proclaimed ‘City of the Future’ which has been working towards becoming the world’s first ‘Blockchain City’ by the year 2021. To foster more growth, UAE has been looking to realign its economic ties using its ports. One of the biggest jewels in the UAE's crown is Jebel Ali Port , the largest for containerships travelling to and from Rotterdam and Singapore. Its proximity to Dubai World Central, which is claimed to be the world’s biggest logistics hub, will be an important factor in the growth of regional and foreign companies based in the UAE. The logistics sector has also benefitted massively from vast investment in physical infrastructures, such as the expansion of the Jebel Ali Port to handling capacity of 22.1 million TEU.