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China announces major investments in Dubai during Sheikh Mohammed's visit

Sheikh Mohammed joined 40 state leaders and delegations from 150 countries.

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By Web Report

Published: Fri 26 Apr 2019, 1:45 PM

Last updated: Fri 26 Apr 2019, 8:05 PM

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai is in the capital of Beijing for the second edition of the Belt and Road initiative.
Major deals were signed and investments were announced during his China visit. Taking to Twitter, Sheikh Mohammed announced the launch of 60 million square feet station at the new Silk Road in Dubai for Expo 2020. 
The Chinese company Yiwu will invest $2.4 billion to use the station for storing and transporting Chinese goods from Jebel Ali to the world via New Silk Road.

He announced another project that will be launched in Dubai for $1 billion. A 'vegetable basket', funded by the China-Arab investment Fund will import, process and pack agricultural products, marine and animal products and export them to the world via the new Silk Road.
He joined 40 state leaders and delegations from 150 countries and international organisations, among them the United Nations, the International Monetary Fund and other entities covered by the initiative launched by President Xi Jinping.   
Sheikh Mohammed said that the UAE plays a pivotal role in enhancing international cooperation and strengthening regional ties with the world. He pointed out to the UAE's keenness to strengthen its global partnerships in various fields.
He stressed on UAE's constant efforts to build more bridges of positive communication and joint action towards establishing the foundations of sustainable development.
(With inputs from Wam) 

Web Report

Published: Fri 26 Apr 2019, 1:45 PM

Last updated: Fri 26 Apr 2019, 8:05 PM

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