Despite continuing uncertainty in global trade and volatile geo-political circumstances, we are moving ahead to further develop our global ports network and to also expand our logistics footprint in strategic locations.
The keynote agreement with the Government of Pakistan will significantly expand our operations in Karachi Port and continue our support for the country’s economic development. The US$240 million of new investment in Pakistan is an indication of our confidence in the future of the country as a growing trade and commerce centre and of our strong relationship with customers, trading partners and stakeholders in this dynamic region.
Our strategy of developing new businesses in different parts of the world provides us with a balanced portfolio and mitigates risks. If you look at our investments in Sweden, Canada, Pakistan and Saudi Arabia, it demonstrates our relentless pursuit of business opportunities – be those within our existing portfolio or in new markets. We also see that by diversifying into the logistics sector, we are able to offer complementary services to a new customer group.
We are also adopting new ideas and technology to enhance our operations, such as introducing remote-controlled equipment, autonomous trucking and the proof of concept for blockchain solutions, where we are working with a number of companies across the supply chain.
It is important that even though we are currently expanding our business portfolio, we retain a keen focus on our costs and continue to look at ways to improve cost efficiency throughout the network.
The launch of the Group Environment Committee is a very important step forward for Hutchison Ports as we look to reduce our carbon footprint and further our efforts to protect the environment. It is up to each one of us to support new green initiatives for a more environmentally-sustainable future, and together we can make it happen.
Group Managing Director