Dubai wealth fund ICD launches new logistics firm

The Investment Corporation of Dubai, the principal investment arm of the Government of Dubai, has announced the launch of ISS Global Forwarding, a wholly-owned subsidiary focused on supply chain logistics.

Headquartered in Dubai and operating out of the Dubai Airport Free Zone, ISS Global Forwarding will focus on core activities of global freight forwarding, contract logistics and projects/oil and gas, a statement said.

It added that ISS Global Forwarding will initially be present in 18 countries across the Middle East, Africa, Europe, India and Turkey but will expand its footprint to Asia Pacific, mainland China and Singapore.

ISS Global Forwarding will be led by industry veteran Enver Moretti who said: "We are establishing ourselves as a regional powerhouse and our aspiration is to be recognised within the supply chain logistics industry as a customer centric organisation."

"We are confident in the future global growth opportunities presented by the supply chain logistics industry. We see particular value at this time in the long-term growth opportunities afforded within the emerging markets region where ISS Global Forwarding enjoys a strong presence," added Mohammed Ibrahim Al Shaibani, CEO and executive director of the Investment Corporation of Dubai.

The establishment of ISS Global Forwarding is the result of a strategic directive by the Government of Dubai to separate Inchcape Shipping Services Holding Ltd into two standalone companies with the aim of optimising the growth potential, customer focus and core competencies.

Arabian Contribution Time: 05-Sep-2018 12:46 (GMT)
Arabian Last Update Time: 05-Sep-2018 12:46 (GMT)