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DP World Has Detailed What It Will Do At The Plastic Tax Zone That Was Opened In The City Of Berbera.
March 3, 2023 - Written by qoriadmin

DP World to Launch Berbera Free Economic Zone - East African Business Week

Berbera – (QN24) – DP World Has Released A Press Release Detailing What It Will Do At The Plastic Tax Zone That Was Opened Yesterday In Berbera.

Read The DP World Post

“The Importance of the Berbera Free Trade Zone is to create an Environment suitable for Business so that Somaliland can attract Investment and Create Jobs.

Berbera Port and Aagani Customs Zone are Somaliland’s integrated maritime, trade and logistics hub in the Horn of Africa.

BERBERA, SOMALILAND.

2 MARCH, 2023 – DP World and the Government of Somaliland today inaugurated the Berbera Economic Zone (BEZ), which along with the port will make Berbera an important business center in the Horn of Africa.

The first phase of the Berbera Tax Free Zone was officially opened today by the President of Somaliland, His Excellency Muse Bihi Abdi and the Chairman and Chief Executive Officer of DP World, Sultan Ahmed bin Sulayem, in a special event attended by entered several hundred guests. who were among the representatives of DP World’s port investment partners and the British International Investment (BII) Tax Free Zone, the UK’s Development Finance Institution (DFI) and Impect Investor.

This opening follows the inauguration of the new container terminal at Berbera Port in June 2021. DP World’s Goal in Berbera is to develop it as a commercial hub, taking advantage of its strategic location along one of the World’s Busiest Sea Routes, and it enters the vast rural areas of the Horn region, which includes Ethiopia.

The duty-free zone is only 15 km away from the port and further along the Berbera to Wajale road (Berbera Corridor) that connects Addis Ababa, Ethiopia, which needs more ports to meet its commercial requirements.

This integrated maritime, logistics and trade center will serve the Horn of Africa, a growing region of more than 140 million people.

It is based on the fruit model of the Jebel Ali Free Zone (Jafza) of DP World in Dubai. There will also be cooperation between the two Zones, with Dubai-based companies in Berbera able to register through the Jafza Offices, while companies in Berbera will be able to access the services of the Tax Zone’s manufacturing facilities. except for Jafza.

The Free Trade Zone is designed to create a business-friendly environment to attract investment and create jobs in Somaliland. It includes a competitive and efficient environment, enabled by the new Tax Free Zone Act, Tax Free Zone companies, financial and non-financial incentives, along with a service office for registration and licensing. warehouses, modern offices, warehouses, and vacant lots for rent.

DP World has already signed an agreement with IFFCO, a major company in the United Arab Emirates, to build a 300,000 Square foot facility for processing edible oils in the Free Trade Zone, and dozens of other companies have already signed up. different.

The President of Somaliland, Mr. Muse Bihi Abdi, said on the occasion: “This is another honorable and Historic Occasion for Somaliland and its people since the opening of the Container Terminal At Berbera Port, and now the Customs Free Zone has been opened for business. We are taking another important step forward in our mission to ensure that Berbera becomes a unified regional trade channel, which will be the key to economic growth, which will increase the flow of trade, foreign investment, and job creation”.

Sultan Ahmed bin Sulayem, Chairman and Chief Executive Officer of DP World, said: “The dynamics of international trade are changing, and there is an increasing need for trade infrastructure, such as Tax Free Zones, for easier and faster access to international trade. this causes companies to be closer to their customers, improve logistics and allow them to expand into new markets. The connection between the Port of Berbera and the new Free Trade Zone is a great example of this, which makes Berbera a world-class trading platform, now and in the future.”

Liz Lloyd, CEO of British International Investment Company added, “We are very happy to be part of this important event to launch the Berbera Free Trade Zone, which will be an important economic asset for Somaliland. and support the growth of the Horn of Africa region. The overall expansion of the port is expected to improve the quality of life and basic living needs of more than one million Somaliland people, increase the availability and affordability of goods and contribute to more than 53,000 Local Jobs. ”

The general plan for the Plastic Tax Zone is over 1,200 hectares and will be expanded over time as demand increases. The first phase, which is now open, offers land for the construction of the company’s Headquarters, 10,000 Square meters of prefabricated warehouses, and ready-to-build, open-air, multi-purpose warehouses. which DP World will serve as a customer base as well as an office space with end-to-end IT services.

Berbera Port is a multi-purpose port with world-class infrastructure including bulk and break bulk cargo, liquid cargo capacity, and a Modern Container Terminal. It has a depth of 17m, a beam of 400m and three STS cranes, which can be used by the largest Container Ships Operating Today. It also has the capacity to handle 500,000 container unit TEUs per Year. The terminal also includes a modern Container Yard with Eight RTG Lifts, and a serviced Office Centre.

Berbera Port is the Center of the Economy. The Expansion is expected to facilitate trade for Approximately 27 percent of Somaliland’s GDP and 75 percent of regional trade by 2035. The Free Trade Zone will facilitate trade in Somaliland and the entire Horn of Africa. This is Beneficial to various sectors such as Exporters, Importers, Livestock, Agricultural Products and Perishables, Marble, and Construction Materials.

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