Countries are looking towards reshoring, nearshoring amid global supply chain reconfiguration, DP World CEO says

The reconfiguration of supply chains is prompting countries to resort to reshoring and nearshoring to preempt supply chain disruptions and double down on industrialization, CEO and Managing Director of DP World UAE and Jafza (Jebel Ali FreeZone Authority) Abdulla Bin Damithan said at the Seatrade Maritime Logistics Middle East event in Dubai, Seatrade Maritime reports. “[Many] are thinking long term and are prepared to sacrifice immediate profitability for increased resilience and reliability,” he added. Regionalizing and reshoring are expected to play a significant role in trends towards economic diversification and phasing out the dependence on oil, Damithan explained.