RIYADH: A new law aimed at boosting investments and trade in Dubai’s maritime sector has been issued by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE.
Under the new law, marine and offshore services provider Drydocks World-Dubai, a part of DP World, will be affiliated with Dubai Ports Authority.
The ruling also provides new responsibilities to the Dubai Ports Authority, which include strategic planning and policy development for overseeing the ports and terminals in Dubai, developing and managing port infrastructure and regulating their operations.
Under the new law, the authority will regulate businesses, activities, and professions authorized to operate in ports and terminals.
Al Maktoum, on his official website, noted that “the law seeks to advance the Dubai Ports Authority’s position as a leading global model in port operation, management, and terminal handling.”
The statement added: “It aims to offer efficient operational services while regulating and developing the port sector in Dubai in accordance with strategic plans and policies.”
All the responsibilities of Drydocks World-Dubai will now be transferred to Dubai Ports Authority, as well all employees, without affecting their acquired rights, assets and funds.
It should be also noted that Dubai Ports Authority will be also in charge of all duties and liabilities of Drydocks World-Dubai.