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The chairman of P&O Ferries’s parent company DP World told Sky News he continued with an £ 1bn investment in the UK, despite being “discredited” by criticism from a cabinet minister.
P & o was widely criticized in 2022 when more than 700 seafarers were summarily fired and replaced by largely overseas workers without consultation.
Last October threatened the issue DP World’s planned expansion of London Gateway, his Diepwaterpoort on the Thames River estuary, then the then -Transport Secretary, Louise Haigh, P&O as a “Rogue operator”.
Her remarks came when DP World was in the last stages of negotiating an £ 1bn investment in the port, which would be announced at the government’s investment summit.
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In response, DP World attracted the announcement and only granted a personal intervention by the prime minister to keep his showpiece on track.
DP -World Chairman Sultan Ahmed Bin Sulayem
Sultan Ahmed bin Sulayem spoke to Sky News exclusively, saying the criticism is unexpected, given the scope of its planned investment in the UK.
‘Water under the bridge’
“There was a misunderstanding. Unfortunately, someone said something that wasn’t what we expected.
“We would invest in infrastructure, a big investment, and then we get the person in control to discredit us basically. But it’s water under the bridge.”
Bin Sulayem confirmed that he spoke to the prime minister and received ‘insurance’ that Ms Haigh expressed a personal view. His subsequently resign After acknowledging a fraud offense.
The chairman also defended P&O and said that the cuts were not necessary to save the company.
“We had a choice. We either close the business and 3,000 people or more lose their jobs, or we try to survive by going 700 or so. And we felt it was right,” he said.
“Maybe we didn’t follow the procedures, but most importantly, we compensated every employee more than the law said.”
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Rebuilding relationships
DP World’s London Gateway Container Port in Stanford-Le-Hope, Essex. Lying Photo: Dad
Bin Sulayem spoke during a flying visit to the United Kingdom intended to rebuild the relations with the government, with the meeting of the Minister of Investment, Poppy Gustaffsen at London Gateway, to discuss an extension that will offer the largest Britain according to volume and provide encouraging words on the attraction of the UK.
“We believe in the British economy, in its strength, and we believe that the economic fundamentals are strong. That’s why we have invested,” he said.
‘The UK has the best stock market in the world. You have English law, and you have the best universities in Oxford and Cambridge. Looking at the future, it will be the economy of the brain, not the economy.
‘The global economy does not want laborers, it wants brains. People want engineers. They want free thinkers. They want innovators. There is what is here, which is why we invested in London Gateway. ‘
Sky’s Paul Kelso with bin sulayem
Tariff Trading Problems
With ports and logistical operations in more than 70 countries dealing with about 10% of global trade, DP World chairman has a unique insight into world trade and the likely impact of the tariff war that Donald Trump caused.
While he is confident that trade will find a way to navigate the disruption, he warned America’s trading partners to take the president seriously.
“I think psychologically will it [have an impact]But in reality it will not, because trade is resilient. I think about it like water coming out of the mountain in the rain, no one can stop it. If you can’t sell a product in one place, you can sell it somewhere else.
‘Trump is a dealer. He makes threats because he is negotiating. He comes with impossible demands because he wants people to come to the table.
“But he’s serious. He will do what he threatens if no one goes on a deal. ‘
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