That’s according to the 2022 Xinhua-Baltic International Shipping Centre Development Index.
Singapore tops the list for the ninth consecutive year, followed by London, Shanghai and Hong Kong.
Dubai sits behind Hong Kong, but ahead of Rotterdam, Hamburg, New York/New Jersey as well as Athens and Ningo-Zhoushan in China, the busiest port in the world in terms of cargo tonnage.
The 2022 Xinhua-Baltic International Shipping Centre Development Index Report, highlights that Dubai offers a number of different locations in which to do business, including free zones, industrial areas and commercial buildings.
“There are (a) number of free zones that allow 100% foreign ownership of businesses. Mainland business regulations allow full foreign ownership in 122 economic activities across 13 sectors and offer 100% profit repatriation,” Dubai Maritime City Authority told the Xinhua-Baltic ISCDI Report.
Further, in February 2022, Dubai Maritime City announced a $38m plan to invest in roads and infrastructure to better integrate the maritime city and attract more businesses.
“The major upgrade to the roads and infrastructure at Dubai Maritime City is part of our efforts to support the Dubai Maritime Vision 2030, which aims to develop, regulate and enhance the local maritime industry and strengthen Dubai’ s position as a world-class, premier international maritime hub,” said Mohammed Al Muallem, Executive Vice President, DP World at the time of the announcement