Latest news with #SultanAhmedBinSulayem
Business Insider
3 days ago
- Business
- Business Insider
Ghana, UAE sign $1bn deal to build AI and tech hub hosting Microsoft, Meta, others
Ghana and the United Arab Emirates (UAE) have signed a memorandum of understanding (MoU) to establish a technology and innovation hub aimed at accelerating Ghana's digital transformation and positioning the country as a regional leader in artificial intelligence (AI) and emerging technologies. Ghana and the UAE have jointly established a plan for the 'Ghana-UAE Innovations and Technology Hub.' This initiative aims to foster digital transformation in Ghana and position it as a leader in AI and emerging technologies. Major global tech companies, such as Microsoft and Alphabet, are expected to engage in this expansive project. Ghana and the United Arab Emirates (UAE) have signed a memorandum of understanding (MoU) to establish a technology and innovation hub aimed at accelerating Ghana's digital transformation and positioning the country as a regional leader in artificial intelligence (AI) and emerging technologies. The agreement was signed by Ghana's Minister of Communication, Digital Technology and Innovations, Samuel Nartey George, and the Chairman of the UAE's Ports, Customs and Free Zone Corporation (PCFC), Sultan Ahmed Bin Sulayem. Ghana's growing tech reputation The initiative, named the 'Ghana-UAE Innovations and Technology Hub,' is expected to attract over 11,000 global technology firms, including global tech giants like Microsoft, Meta, Oracle, IBM, and Alphabet seeking to expand their presence in the country and across the continent. The companies under the PCFC umbrella will serve as a regional base for AI engineering, business process outsourcing (BPO), knowledge process outsourcing (KPO), and data generation for Africa-focused machine learning. The PCFC will fully fund the first phase of the project in collaboration with leading AI firms involved in Dubai's AI transformation. This phase will include the development of a 25 square kilometre (Km2) site in Ningo-Prampram with the government providing the land for the initiative. Ghana has earned a growing reputation as one of Africa's emerging tech hubs, driven by proactive government policies, vibrant startup activity, and increasing international interest. In April 2019, Google opened Africa's first centre for artificial intelligence (AI), in Accra, Ghana.
Gulf Today
4 days ago
- Business
- Gulf Today
PCFC and Ghana to establish economic zone, digital incubator
The Ports, Customs and Free Zone Corporation (PCFC) and Government of Ghana have signed a landmark Memorandum of Understanding (MoU) to establish Ghana's first economic zone and digital incubator in Accra. The initiative aims to accelerate the country's transformation into a regional technology powerhouse, attracting investment into West Africa. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of PCFC, and Samuel Nartey George, Ghana's Minister for Communication, Digital Technology and Innovation. Under the agreement, a 25 square kilometre area in Accra will be allocated to PCFC for the development of the economic zone. PCFC will lead the zone's operations and attract global technology firms, facilitating investment and business expansion. The MoU also includes joint efforts to establish digital infrastructure and property development within the zone. Sultan Ahmed Bin Sulayem affirmed that PCFC's commitment to supporting the UAE's global outreach and sharing Dubai's pioneering experience in innovation and economic development. 'This initiative underscores our strategic relationships worldwide and reinforces PCFC's role as a key contributor to Dubai's knowledge and innovation-based economy. We are focused on launching cutting-edge projects that promote sustainable growth, invest in human capital and advanced technology, to cement Dubai's status as a global hub for smart technologies and digital transformation.'' He also expressed his appreciation for the Government of Ghana's trust in PCFC's expertise and its warm reception of the initiative. 'This smart economic zone, combining innovation, technology, and logistics, will foster commercial growth and strengthen Ghana's industrial and technological infrastructure.'' Samuel Nartey George stated that the partnership will significantly bolster Ghana's economic position, transforming it into a regional technology hub in Africa. 'This initiative aligns with Ghana's vision for digital transformation and sustainable economic growth. The zone will play a pivotal role in attracting global businesses and talent, positioning Accra as a destination of choice on the international stage.' In February, The Ports, Customs and Free Zone Corporation, and Cordiant Capital, a global investor in infrastructure and real assets, signed a Memorandum of Understanding (MoU) to advance their strategic collaboration to strengthen Dubai's agriculture value chain and bolster its food security initiatives. Under the terms of the MoU, both parties will work together to explore opportunities to optimise end-to-end agricultural value chains from origin-producing countries to Dubai through infrastructure investments, strategic trade corridors, and supply chain solutions. The MoU was signed by Sultan Ahmed Bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation and Cédric Garnier-Landurie, Partner and Head of Agriculture Value Chain at Cordiant Capital, in a ceremony held at the World Governments Summit 2025 in Dubai. This partnership reinforces PCFC's commitment to developing innovative logistics and supply chain solutions aligned with Dubai's long-term vision for sustainable food security. The collaboration between PCFC and Cordiant Capital paves the way for the two parties to cooperate in: Building Next-Generation Cold Chain Networks: Implementing advanced cold-chain logistics systems that will maintain optimal freshness from farm to table, dramatically reducing food waste while ensuring consistent quality of perishable goods. Enhancing Dubai's Position as a Fresh Food Hub: Supporting Dubai's goal of becoming a global hub for fresh food distribution by leveraging PCFC's logistical capabilities and Cordiant's investment expertise in agriculture supply chains. Strategic Trade Corridors: Strengthening efficient, digitally enabled trade routes that optimize the movement of agricultural products while reducing transportation costs and environmental impact. Advancing National Food Security: Supporting Dubai's vision of becoming a leader in food security by investing in sustainable agricultural practices and cutting-edge supply chain solutions. Technology and Innovation: Deploying advanced technologies including IoT sensors, AI-powered analytics, and blockchain-enabled tracking systems to create unprecedented visibility and efficiency across the entire supply chain. These initiatives will support Dubai's ambitious food security strategy, which aims to enhance the emirate's agricultural self-sufficiency and diversify its food sources. The partnership leverages PCFC's unparalleled logistics expertise and Cordiant Capital's agricultural and infrastructure investment expertise to support fresh food supply chains in key markets. WAM
Zawya
27-05-2025
- Business
- Zawya
Oman, UAE sign deal to launch Al-Rawdah SEZ
MUSCAT: The Public Authority for Special Economic Zones and Free Zones (OPAZ) has entered into a landmark agreement with Mahdah Development Company—an Omani-Emirati partnership represented by DP World—to develop and operate the first phase of the Al-Rawdah Special Economic Zone in Al Buraimi Governorate. The signing ceremony was held in the presence of His Highness Sayyid Theyazin bin Haitham al Said, Minister of Culture, Sports, and Youth, and His Highness Shaikh Hamdan bin Mohammed bin Rashid al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defense of the United Arab Emirates. Signing on behalf of OPAZ was Eng Ahmed bin Hassan al Dheeb, Vice-Chairman of OPAZ, while Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, represented the Emirati side. Eng Ahmed al Dheeb emphasised that the Al-Rawdah Special Economic Zone is a strategic initiative aligned with the goals of Oman Vision 2040. He noted that the project is designed to create employment opportunities, attract cutting-edge technologies, and promote a sustainable, business-friendly environment. The zone's location in Wilayat Mahdah, strategically positioned at the crossroads between Oman and the United Arab Emirates, ensures direct connectivity to Sohar Port and Jebel Ali Port. This geographic advantage is expected to enhance logistics efficiency, reduce operational costs, and improve market access across the Gulf, Asia, and Africa. Sultan Ahmed bin Sulayem described the project as a new chapter in economic cooperation between Oman and the UAE. He reiterated DP World's commitment to developing a world-class trade and investment hub in partnership with OPAZ and Omani stakeholders. The project, he said, will serve as a platform for sustainable and diversified economic growth while deepening commercial ties between the two countries. Under the 50-year usufruct agreement, Mahdah Development Company will initially develop 14 square kilometers of the zone, with the potential to expand to 25 square kilometers in a second phase, subject to a detailed development plan. The company is tasked with delivering core infrastructure, including road networks, water and sewage systems, and other public utilities. It will also prepare a comprehensive master plan, conduct environmental assessments, and outline zoning layouts for industrial, logistics, commercial, and service sectors. The first phase will focus on attracting investment in key sectors such as manufacturing, logistics and warehousing, pharmaceuticals, plastics, mining, food processing, and safety and security services. This multi-sectoral approach is expected to attract high-value investors and support long-term business viability. To incentivize investment, Al-Rawdah Special Economic Zone will offer a host of benefits, including a 10-year income tax exemption extendable for two additional terms, customs duty exemptions on imports, exports, and stored goods, and streamlined licensing and permitting through a one-stop shop. Foreign investors will be permitted 100% ownership of their enterprises, while strategic projects will benefit from a single-window approval process for establishment and operation. In addition to its economic and trade focus, the zone is positioned to facilitate supply chain development and re-export activities between Oman, the UAE, and broader global markets. It is also expected to enhance lifestyle offerings, promote tourism, and support business diversification within Mahdah and the wider Al Buraimi Governorate. The initiative is seen as a catalyst for job creation and small and medium enterprise (SME) development in the region. The signing of the agreement reinforces Oman's commitment to economic diversification, strengthening strategic partnerships, and attracting quality investments in alignment with the long-term aspirations of Oman Vision 2040. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Gulf Business
21-05-2025
- Business
- Gulf Business
DP World to invest $2.5bn in 2025 to expand global logistics footprint
Image: DP World Dubai-based DP World will invest $2.5bn this year to expand its global logistics network, with major infrastructure projects across India, Africa, South America, and Europe, the company said on Tuesday. The investments aim to bolster end-to-end supply chain capabilities in response to increasing demand for resilient and integrated logistics solutions. The move also reaffirms the company's long-term confidence in global trade, despite current economic uncertainties. 'Global trade is evolving fast, and we are investing boldly to shape its future,' said Sultan Ahmed bin Sulayem, chairman and group CEO of DP World. 'This $2.5bn commitment reflects our confidence in long-term trade growth and our determination to build the infrastructure needed to keep the world connected.' DP World said the investments span four continents and will significantly boost capacity at key ports, reinforcing its position as a key enabler of global trade. Read: DP World investments across markets In India, the company is constructing a new $510m terminal at Tuna Tekra in Gujarat, featuring a 1.1-kilometre berth and an annual capacity of 2.19 million TEUs. The terminal will connect India's hinterland to global markets via roads and railways. In Africa, DP World is advancing its deep-sea port project in Banana, Democratic Republic of Congo. The new facility, with a capacity of 450,000 TEUs per year, is expected to reduce transit times and attract larger vessels from Asia and Europe, enhancing the region's economic prospects. Further north, in Senegal, the company has begun work on the 1.2 million TEU-capacity Ndayane Port, with an initial investment of $830m. The project is considered vital to the country's long-term development. In South America, DP World has started a $140m expansion at the Port of Posorja in Ecuador, extending the dock to 700 meters to accommodate two post-Panamax vessels simultaneously. Meanwhile, in Europe, the company will invest $1bn in expanding the London Gateway logistics hub, including two new shipping berths and a second rail terminal. The development is expected to create 400 jobs and bring the port closer to becoming the UK's largest container terminal by the end of the decade. The projects align with DP World's strategy to build a fully integrated global trade platform that spans ports, inland logistics, marine services, freight forwarding, warehousing, and technology. The company now operates over 240 freight forwarding offices worldwide. 'Our integrated model gives us visibility and control across the entire supply chain, helping our partners reduce risks and costs,' bin Sulayem said. 'No one else can offer this breadth of capabilities, and we are proud to deliver long-term value to the customers and communities we serve.'
Khaleej Times
20-05-2025
- Business
- Khaleej Times
DP World to launch $2.5 billion logistics infrastructure investment in 2025
DP World will invest $2.5 billion this year to expand its global logistics network, launching major infrastructure projects across India, Africa, South America and Europe in response to rising demand for resilient, integrated supply chain solutions, the logistics operator announced on Tuesday. The four major developments – across four continents – extend DP World's end-to-end capabilities, significantly expanding capacity in its network of global ports and reinforcing its positions as a key enabler of global trade. Sultan Ahmed bin Sulayem, Chairman and Group CEO of DP World, said: 'Global trade is evolving fast, and we are investing boldly to shape its future. Despite short-term uncertainty, this $2.5 billion commitment reflects our confidence in long-term trade growth and our determination to build the infrastructure needed to keep the world connected. We are building a unique array of assets and suite of capabilities, helping our customers stay competitive, support local economies and enable global access. Nobody can match us for the diversity and breadth of our supply chain solutions.' Construction is underway on a new $510 million terminal at Tuna Tekra in Gujarat on India's northwestern coast. Featuring a 1.1 km berth and annual capacity of 2.19 million TEU, the terminal will connect India's vast hinterland to global markets through a network of roads and railways, enabling faster, more efficient trade access for Indian businesses. DP World is moving ahead with the development of the new deep-sea port at Banana in the Democratic Republic of Congo (DRC). The 450,000 TEU a year facility on the DRC's Atlantic coast will bring significant cost and time savings for the country's trade, as it will attract more direct calls from larger vessels from Asia and Europe, boosting economic growth across the region. Further up the West African coast, work is already underway on the new 1.2 million TEU a year Ndayane Port in Senegal. An initial investment of $830 million is being made in this strategically vital project, which will support the country's development for the rest of the century. At the Port of Posorja in Ecuador, DP World has initiated a $140million berth expansion that will expand the dock to a total of 700m, enabling it to accommodate two post-Panamax vessels at the same time. Finally, at the London Gateway logistics hub, DP World is investing $1 billion to build two new shipping berths and a second rail terminal. The expansion will create 400 new jobs, support the UK's growing role as a trade gateway and move the port closer to becoming Britain's biggest container port by the end of the decade. The 2025 investments underscore DP World's strategy to create a uniquely connected global platform, from ports and terminals to inland logistics, marine services, warehousing, freight forwarding and technology. It's married to a growing network of freight forwarding offices – now standing at more than 240 worldwide — to meet the needs of ever more cargo owners. 'Our integrated model gives us visibility and control across the entire supply chain, helping our partners reduce risks and costs. No one else can offer this breadth of capabilities, and we are proud to deliver long-term value to the customers and communities we serve,' Bin Sulayem added.
