The DP world is set to launch the Berbera Economic Zone in Somaliland to create an integrated maritime, logistics, and industrial platform to serve the Horn of Africa and Ethiopian markets.
This follows its huge investment of over $442 million in expanding the Port of Berbera.
The Port of Berbera is the most modern container terminal in the horn of Africa with extensive bulk and breakbulk handling facilities as well as liquid cargo handling capability.
On the other hand, the Berbera Economic Zone, modelled on our flagship Jebel Ali Free Zone in Dubai, aims to offer a similar business environment that our Jafza customers have become accustomed to, whether it is in terms of the regulatory framework, range of facilities, incentives and the one-stop-shop services.
Suhail Albanna, DP World’s CEO & MD of the Middle East & Africa said: ”With both the port and the economic zone being operated by DP World, it will be like home away from home for our Jafza customers”.
A new special economic zone law and a new special economic zone companies’ law have been passed by the Somaliland Parliament with a view to offer companies operating in the zone a secure and stable business environment.
The facilities which are available for annual lease, long-term lease of 25 years or sale include offices, prebuilt Light Industrial Units (LIUs) as well as serviced land plots.
DP World says it can also offer built to suit as well as project management services for companies looking to outsource the construction of their facilities.
“Moreover, DP World will provide logistics services including clearing, storage and delivery of goods to companies operating in the zone,” the maritime company said in a statement
It added: “The incentives offered to companies include a wide range of fiscal and non-fiscal incentives, including exemption from corporate tax, duty-free storage of goods, exemption from import or export permits, 100% foreign-owned companies and the ability to employ foreign labour.”
DP World has set up and will operate the one-stop shop where services include company formation, licensing, issue of building and Health, Safety & Environment (HSE) permits, as well as facilitating other services such as visa and work permits. Applications for registration and licensing can be made through the Berbera Economic Zone portal or submitted and attested through the Jafza one-stop shop.
The DP World said: “This integrated maritime, logistics and industrial platform, the customer centric ecosystem as well as the competitive and conducive business environment, constitute the key attributes in positioning Berbera as an emerging gateway for the horn of Africa and Ethiopian markets.”