ECONOMY

Dubai Maritime City to be up and running soon

Dubai Maritime City officials yesterday delivered a presentation in Athens, stressing the advantages of the tax-free environment, trade zone benefits and the operating port infrastructure. Speaking within the context of the Posidonia 2008 shipping exhibition, DMC officials said the international maritime center will soon be able to receive shipping agents. There is also a special provision in the project’s founding charter for the creation of an authority with economic and administrative self-sufficiency, which will allow it to issue property licenses for companies operating within the shipping complex by offering unique advantages to anyone associated with DMC. The company that is to construct and operate the project is part of the Dubai World firm worth billions of dollars that handles the portfolio of Dubai government’s companies worldwide, many of which are related to shipping. DMC is to be a city made up of six complexes that will cover an area of 2.27 square kilometers. Its main aim is to serve shipping companies as well as every aspect of the industrial, commercial and recreational needs of the shipping community. «Dubai Maritime City is one of the most important features for Dubai’s growth into one of the strongest shipping centers in the next few years,» said the firm’s CEO, Amer Ali.