DP world and Somaliland Govt open Berbera economic zone, DP World and the Government of Somaliland have inaugurated the new Berbera Economic Zone( BEZ), which along with the Port of Berbera, is converting the area into a major trade mecca in the Horn of Africa.
The first phase of the BEZ was officially opened by His Excellency Muse Bihi Abdi, President of Somaliland, and Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, at a special event attended by several hundred guests. These included representatives from DP World’s investment mate in the harborage and zone, British International Investment( BII), the UK’s Development Finance Institution( DFI) and impact investor.
The opening followed the induction of the new vessel terminal at Berbera Port in June 2021. DP World’s vision for Berbera is to develop it into a trade mecca, taking advantage of its strategic position along one of the busiest ocean routes in the world and access to the vast hinterland in the region, including Ethiopia.
The BEZ is located just 15 km from the harborage along the Berbera to Wajaale road( Berbera Corridor) that connects to Addis Ababa in Ethiopia, which needs multiple ocean gateways to meet its trade conditions. This integrated maritime, logistics and artificial mecca will serve the Horn of Africa, a dynamic region with a population of further than 140 million people.
It’s predicated on the largely successful model of DP World’s Jebel Ali Free Zone( Jafza) in Dubai. There will also be solidarity between the two zones, where companies in Dubai can register for Berbera through the Jafza one- stop shop, while companies in Berbera can pierce Jafza’s incubation center installations.
The zone is designed to produce a business-friendly terrain to attract investment and produce jobs for Somaliland. It includes a competitive and conducive terrain, enabled by a new Special Economic Zone Law, Special Economic Zone Companies Law, fiscal and non- financial impulses, along with a one- stop shop for all registration and licensing conditions, modern services, warehousing and serviced land plots.
DP World has formerly signed an agreement with IFFCO, a major UAE- predicated food company, to develop a, 000 square bases eatable oil painting oil quilting plant in the BEZ and a dozen farther companies operating across various sectors have formerly registered.
Speaking at the event, His Excellency Muse Bihi Abdi, President of Somaliland, said “ This is another proud and major moment for Somaliland and its people. After the induction of the vessel terminal at Berbera Port, and now with the profitable zone open for business, we are taking a major vault forward in realizing our vision to establish Berbera as an integrated, indigenous trade gateway, which will be a pivotal automobilist of profitable growth, achieved through increased trade overflows, foreign investment and job creation. ”
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said “ The dynamics of global trade are changing, and there is a growing need for trade structure, analogous as profitable zones, with easy and fast access to international shipping. These will bring companies closer to their guests, meliorate their logistics and allow them to expand into new requests. The integration of Berbera harborage with the new Economic Zone is a great illustration of this, making Berbera a world- class trading ecosystem, now and for the future. ”
Liz Lloyd, Chief Impact Officer of British International Investment, added “ We are truly proud to be part of this important corner to inaugurate the Berbera Economic Zone, which will give a vital profitable boost to Somaliland and support growth in the broader cornucopia of Africa region. The overall expansion of the harborage is anticipated to meliorate the quality of life and livelihoods for over a million Somali landers, adding the vacuity and affordability of goods and indirectly supporting over, 000 jobs locally. ”
The Master Plan for the BEZ covers further than, 200 hectares and will be expanded over time as demand grows. With phase one now open, it offers serviced land plots for the construction of company installations,, 000 square measures of pre- erected warehouses, make- to- suit installations, open yard storage, a common user storage which DP World will operate to handle guests ’ weight, as well as office space with end- to- end IT services.
The Berbera Port is a multipurpose harborage with world- class structure, including extensive bulk and break- bulk handling installations, liquid weight handling capability and a state- of- the- art vessel terminal. It has a deep draft of 17 meter, a quay of 400 meter and three boat- to- underpinning( STS) gantry cranes, which can admit the largest vessel vessels in operation moment. It also has the capacity to handle, 000 twenty- bottom original units( TEUs) a time. The terminal also includes a modern vessel yard with eight rubber tyred gantry cranes( RTGs) and a one- stop service center.
The Berbera Port is a foundation of the economy. As a result of the expansion, it’s anticipated to grease trade original to roughly 27 of Somaliland’s GDP and 75 of indigenous trade by 2035. The BEZ will make trade easier for businesses in Somaliland and also the wider cornucopia of Africa. This will benefit a variety of sectors including exporters, importers and processors of beast, agricultural and perishable goods, fabrics and construction paraphernalia.
