Sheikh Mohammed bin Rashid unveils blueprint for Dh5.5 billion Dubai Food Park

Dubai Food Park is being positioned as one-stop shop for the food sector. (Courtesy Dubai Media Office)
Updated 23 August 2017

Sheikh Mohammed bin Rashid unveils blueprint for Dh5.5 billion Dubai Food Park

DUBAI: Sheikh Mohammed bin Rashid Al-Maktoum, the Vice President and Ruler of Dubai, has unveiled the blueprint for Dubai Food Park, which aims to raise the emirate’s position as the region’s leading food re-export hub.
To be developed at a cost of Dh5.5 billion, the park will feature a central wholesale market, a logistics area, complementary services area, a facility for recycling organic waste and a government center that will handle customs clearance, licensing, food safety and inspection under one roof.
Dubai Food Park will be located inside Dubai Wholesale City and will occupy 48 million square feet and is easily accessible from Al-Maktoum International Airport and the Jebel Ali free zone, which form part of the emirate’s logistics corridor.
The park’s strategic location at the crossroads of East and West and easy accessibility to Dubai’s advanced logistics facilities distinguish it from other wholesale destinations worldwide, a statement from the Dubai government said.
Food trade contributes 11 percent to the UAE’s GDP and the food industry is estimated to grow by 70 percent to $6.3 billion by 2030.
The park will offer all categories of food wholesale services to meet the high demand of the food sector in the UAE and the wider region, the statement said.
“DFP has been established to meet the increased need for specialized logistical services to reduce supply chain costs. The park will be a one-stop destination for government, administrative and logistical services related to food wholesale, import, export and re-export,” Abdulla Belhoul, the CEO of Dubai Wholesale City said.


China aims for sustained and healthy economic development

Updated 30 October 2020

China aims for sustained and healthy economic development

  • Beijing to let market forces play decisive role in resources allocation, report says

BEIJING: China is targeting sustained and healthy economic development in the five years to 2025, with an emphasis on a higher quality of growth, the Xinhua news agency said on Thursday, citing the ruling Communist Party’s Central Committee.

President Xi Jinping and members of the Central Committee, the largest of the ruling party’s elite decision-making bodies, met behind closed doors from Monday to lay out the 14th five-year plan, a blueprint for economic and social development.

China’s external environment “is getting more complicated,” the agency said, adding, “There is a significant increase in instabilities and uncertainties.”

BACKGROUND

China aims to boost its gross domestic product (GDP) per person to the level of moderately developed countries by 2035, while GDP is due to top 100 trillion yuan ($15 trillion) in 2020.

However, the country’s development was still in a period of important strategic opportunities, despite new challenges, it said.

It added that China aims to boost its gross domestic product (GDP) per person to the level of moderately developed countries by 2035, while GDP is due to top 100 trillion yuan ($15 trillion) in 2020.

China will also deepen reforms and let market forces play a decisive role in resources allocation, the agency said.

China will promote a “dual circulation” model, make self-sufficiency in technology a strategic pillar for development, move to develop and urbanize regions, and combine efforts to expand domestic demand with supply-side reforms, it added.

The “dual circulation” strategy, first proposed by Xi in May, envisages that China’s next phase of development will depend mainly on “domestic circulation” or an internal cycle of production, distribution and consumption, backed by domestic technological innovation.