Somaliland

DP World says to build economic free zone in Somaliland

Published

7 days ago

Nov 07, 2017

Bartamaha Admin

DP World, the world’s fourth largest ports operator,said on Monday itwill build an economic free zone in Somaliland to capitalise on strong growth at the Port of Berbera, which the group has been managing since last year.

A total of 12.2 square kilometres of land has been earmarked for the Berbera Free Zone (BFZ), which is to be modelled on Dubai’s Jebel Ali Free Zone (Jafza), the Middle East region’s biggest free zone.

The Dubai-based ports operator signed a 30-year concession agreement to manage the Port of Berbera in May 2016. In September 2017, the port recorded a 40 per cent year-on-year increase in container volumes – the highest total volumes in the port’s history, DP World said in a statement.

The new economic zone aims to position Berbera as a gateway port for east Africa, by encouraging investments and trade in the warehousing, logistics, manufacturing and related businesses.

DP World will develop the free zone in phases, with the first phase focusing on 4 sq km of land, according to the terms of a deal signed this week between Somaliland’s foreign affairs minister Saad Shire and DP World group chairman and chief executive, Sultan bin Sulayem.

The capital required from DP World to develop the zone and details about the phases will be announced after the project gets approved by Somaliland’s new government following elections on November 13, DP World said.

It added that each phase would start once the previous one has achieved 85 per cent occupancy.

The ports operator has begun implementing a masterplan for the Port of Berbera, including an additional 400-metre container terminal, upgrades to existing facilities and new equipment.

“Somaliland’s development opportunities…has parallels with the start of our own growth in Dubai and the UAE,” said Mr bin Sulayem. “Our vision is to make Berbera a trading and transportation hub for the Horn of Africa.”

DP World last month reported a 13.5 per cent year-on-year increase in gross container volumes in the third quarter across its global portfolio, thanks to an improved trading environment.

Related Topics:DP World Featured Somaliland UAE

Up Next

Recognition a Key Issue in Somaliland’s Presidential Election

Don't Miss

Somaliland: From fighting famine to election fever

Bartamaha Admin

Adna Aden “Somaliland is not a State its a Country”

Habka ay u dhacday Doorashada Somaliland

Somaliland votes for new president amid tight contest

Presidential Candidate in Somaliland making personal calls, asking citizens to vote for him

High spirits as Somaliland prepares to vote

Five things you need to know about Somaliland’s vote

Click to comment

You must be logged in to post a comment Login

You must be logged in to post a comment.

Somaliland

Adna Aden “Somaliland is not a State its a Country”

Published

7 hours ago

Nov 13, 2017

Bartamaha Admin

Somaliland

Habka ay u dhacday Doorashada Somaliland

Published

10 hours ago

Nov 13, 2017

Bartamaha Admin

Somaliland

Somaliland votes for new president amid tight contest

Published

11 hours ago

Nov 13, 2017

Bartamaha Admin

MOGADISHU, SOMALIA People in Somalia’s semi-autonomous region of Somaliland are voting Monday to elect their fifth president Monday as the ruling party faces a strong challenge from opposition candidates.

More than 700,000 registered voters are expected to cast their votes at more than 1,600 polling stations across Somaliland amid tight security in the peaceful enclave.

This election will be the first in Africa one to use iris-scan biometric technology to prevent anyone from voting more than once, said Somaliland’s electoral officials.

Three candidates are running for president following weeks of election campaigns. The current president is stepping down after his five-year term was controversially extended for two and half years because of a shortage of funds and a drought. Muse Bihi Abdi, the candidate for the ruling Kulmiye party and his main challenger Abdirahman Irro from the opposition Wadani party are slight favorites over Feisal Ali Warabe, a veteran politician from the opposition party UCID.

Polling stations opened at 7 a.m. local time and will close at 6 p.m. Long lines have formed outside polling stations as soldiers stood guard nearby.

Results are expected by Friday. The new president will serve a five-year term that can be renewed once. The vote will be monitored by a British-funded team of 60 international observers from 27 countries.

The Somaliland government will block access to social media during the vote-counting period to try to prevent the spread of rumors about election results.

Somaliland, a haven of relative peace in northwestern Somalia declared its unilateral independence from Somalia in 1991. However, no country has so far recognized it as an independent state. Some voters said they hope Monday’s vote will help Somaliland’s push for international recognition.

“We hope it’ll be a peaceful election that will prove to the world that Somaliland deserves an international recognition,” said Barkhad Jama, a resident in Hargeisa, Somaliland’s capital.