Covid-time investments in tech, supply chain can pay off for global businesses: DP World survey

Covid-time investments in tech, supply chain can pay off for global businesses: DP World survey

The Red Sea crisis continues to inject uncertainties into trade movements. But businesses are willing to look at the big picture. Image Credit: Bloomberg

Dubai: As Red Sea tensions simmer, will businesses worldwide reap the benefits of their investments in technology and supply chain made during the Covid year? A new poll suggests businesses remain optimistic about their chances during 2024.

“The findings reveal a remarkable optimism, despite businesses having to operate in an increasingly uncertain environment,” said Sultan Ahmed bin Sulayem, DP World Group’s Chairman and CEO. (DP World along with Economist Impact has brought out the ‘Trade In Transition’ study.)

“Governments can maximise the significant economic benefits of trade by providing the predictability that businesses need, while reducing trade friction.

“This entails not only tariff reduction, but also collaborating with the private sector to roll-out technological advancements – most notably in digitalisation, automation and AI – that enable greater efficiency, visibility and adaptability.”

The fourth in the annual survey, the Trade in Transition pulls in perspectives of trade experts and senior corporate executives across regions and sectors.

“This period of unprecedented transformation – heightened geopolitical risk, the urgent realities of climate change and significant advancements in technologies – is