Today, the UAE economy is only 20% dependent on oil, confirms DB Schenker CEO

"We are a German company founded in 1880, and it started operating in Dubai in 2001,” said Farook Hasan Hussein Alzeer, CEO of the logistics company DB Schenker at the first Israel Dubai Conference. “We have 650 employees here. I founded it after I came here from Salfit, where I was born not far from Kfar Saba, Israel. My father was mayor of Salfit for many years and I moved here as a young man. Today I live here with my wife who is originally from Venezuela."

“We have more than 200 nations here and Dubai is a business city,” he explained. “The size of the economy is $430 billion, with 80% no longer tied to oil. Small and medium-sized businesses are the vast majority of the companies here and the majority of the population is between the ages of 25-32.”

In light of how Dubai, and the rest of the UAE, is changing, Hussein Alzeer reveals how it became such a powerhouse on the global stage, notably its ‘Skybridge’. “The wisdom is in combining sea, land and air transportation. If you have a delivery from the Far East to Israel and it is urgent during peak times, transport is too long, air is too expensive, and this product combines both,” he concluded.

DB Schenker is a global logistics solutions and supply chain management company with headquarters in Germany. It handles logistics and customized shipping solutions.

You can watch the entire exchange above