Cyprus Mail
Investment Watch

‘We are here to help long-term economic growth’

DP World, a leading enabler of global trade with 36,000 employees from over 100 countries, has invested heavily in Cyprus, which it sees as a key part of its global footprint.

In an exclusive capacity, DP World took over operating the multi-purpose terminal in Limassol in January 2017, after being awarded a 25-year concession in April 2016. P&O Maritime, a DP World subsidiary, also has a 15-year concession to exclusively provide the full range of marine services at Limassol port.

Investment Watch spoke to Charles Meaby, the managing director of DP World Limassol.

Why did DP World seek the concession at Limassol Port?
Cyprus makes sense for us given its location at crossroads of Europe, Middle East and Africa, making it attractive for both maritime trade and passenger routes. It was an exciting opportunity to expand our presence into the Eastern Mediterranean. We are in locations where our customers want us to be.

Cyprus has the opportunity to play a vital role in encouraging trade in the region. Our aim is to grow business at the port and make changes necessary to support easier mechanisms to do business at the port. We are here to help the long-term benefit and growth of Cyprus’ economy, working closely with our partners – the Cyprus Ports Authority and the government. We are investing considerable resources in the port.

Why do you find Cyprus a good place to do business – and are there any areas that you think need improvement?
We see it as part of our legacy to infuse innovation throughout DP World’s operations and we’d like our people at DP World Limassol and the local community to grow with us, finding new opportunities to the benefit of all.

We are committed to working alongside our customers and partners to continue growing their business here and strengthening the status of DP World Limassol, upskilling the local workforce and being recognised not only as a port but a pillar of the economy.

The new passenger terminal brings new opportunities – all our stakeholders and partners stand to benefit from this new passenger terminal.

However, to capitalise on this opportunity and make it a success, all our stakeholders and partners need to invest in improving and modernising the reliability and quality of their offerings and services. Working in partnership is a key strand of engagement for DP World Limassol, as we want our partners, stakeholders and the economy to feel the positive knock-on effects this opportunity brings to Cyprus.

Would you recommend Cyprus to other major companies as a place to headquarter or to establish a regional presence?
We continually review opportunities and are where our customers want us to be and Cyprus forms part of that key global footprint. However other businesses would need to evaluate the business environment for their own needs.

With the imminent merger of Columbia Shipmanagement and Marlow Navigation – two long-established, Limassol-headquartered companies with German origins – Cyprus will boast one of the world’s biggest ship-management companies. Together, they employ over 700 staff and have more than 30,000 seafarers.

Mark O’Neil, the president of Columbia Shipmanagement and future CEO of the merged Columbia Marlow, recently told the Cyprus Mail that he loves the island, both for the lifestyle and as a place to do business.

I cannot think of another government that supports shipping in the same way

He said the workforce in Cyprus is dynamic, hard-working and “better qualified than many other, if not all other, Europeans”, while the courts are reliable and Cypriot accountants are “second to none”.

And he had high praise for the government. “I cannot think of another government that supports shipping in the same way. In every single conference, I am rubbing shoulders with your Ministers of Finance and Transport who are there, flying the flag for Cyprus. No other government is doing this.”

Part I :Reasons why companies choose Cyprus

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