Oodweyne News - Latest Somali News Update

DP world investment deal to Somaliland generated unlimited opportunities to Somaliland economic growth as this has generated foreign capital and promoted Somaliland diplomatic status quo

History is a clock that people use to tell their political and cultural time of day. It is a compass they use to find themselves on the map of human geography. It tells them where they are but, more importantly, what they must be. The greatest words are written on hearts. This investment deal has generated second source of income to Somaliland economy. DP world investment in Somaliland have proved Somaliland strategic location in horn of Africa. The historic traditional trade link between the people of Somaliland and UAE is factor that influenced the investment between the two countries. Somaliland offers good opportunities for profitable investment and those who got in early will see the greatest gains. Somaliland government has signalled its eagerness to attract Foreign Direct Investment considering the upgrading and expansion of the port.

Somaliland, UAE and Ethiopia are excited after concluded the agreement. Somaliland has vast investment opportunities to be exploited. Somaliland encourages international investors investing Somaliland as this is fullest role in a changing and interdependent world. DP World investment in Berbera has strengthened the relationship between Somaliland and the UAE which existed over centuries. Foreign direct investment has a major role to play in the economic development of the host country. DP investment in Somaliland will convert Berbera port as a major shipping and logistic hub in horn of Africa.

This project will encourage international investment, create much needed jobs and enhance the socioeconomic development not only for Somaliland but for the whole region. I paid a visit to Berbera the first week of this month (February, 2019) and eye witnessed how the port was operating. During my visit to Berbera I get the opportunity to meet a number of DP employees. I found their salaries surprised me as I never though earlier such salaries can be obtained within Somaliland. In fact, I thought, I was in other country other than Somaliland as I saw unexpected salaries that crossed beyond my imagination being more than attractive packages.

In the first place, DP world in Somaliland is the place whereby the company employees has paid leave annually, have proper work contract, job security, excess to take loans from Somaliland banks which is not possible the rest of Somaliland job providers. This means, the company treats their employees like international standards which is not common for the rest of Somaliland. It is worth to mention, Somaliland port authority has benefited the management efficiency of DP world, in other words Somaliland port authority benefited the technical know of DP world. This is by-product of the investment deal

DP world employees in Berbera experiencing their happiest moments in their life. There is nowhere in Somaliland whereby its employees has get life insurance with the exception of DP world employees. This is a rare scenery in Somaliland. Progress never happens by miracle any part of the world, but takes a process of time. DP world investment in Berbera include DP world to develop Free Zone (BFZ) in Berbera which intended to support the growth of Berbera as a regional trading hub for East Africa and generate jobs. The free zone project will target a wide range of businesses including warehousing, logistics, traders, manufacturers and other related businesses.

The free zone will target a wide range of businesses including warehousing, logistics, traders, manufacturers and other related businesses. .Somaliland will benefit the Berbera Free Zone as this will allow Somaliland’s economy to improve its competitiveness sectors. Under the terms of the agreement, DP World will develop BFZ in phases, with the first phase focusing on 4 square kilometres of land out of the 12.2 square kilometres earmarked for the project. Future phases will be detailed in a concept plan together with the projected capital investment required from DP World for its development. The 12 square kilometre free zone is to be modelled on Dubai’s Jebel Ali Free Zone (Jafza), the region’s biggest free zone and will aim to attract investments and trade in the warehousing, logistics, manufacturing and related businesses.

12 square kilometer economic zone in Somaliland will aim to attract logistics, manufacturing firms. Free Zones (FZ) are designate areas in which companies are taxed very lightly or not at all to encourage economic activity. A 12.2 square kilometre area has been earmarked for the Greenfield economic zone, which will target sectors such as logistics and manufacturing. The project will be developed in phases starting with an initial 4 square km

Jebel Ali Port has been voted “Best Seaport in the Middle East” for 20 consecutive years and is ranked the 9th largest container port worldwide. It has the world’s largest man-made harbour. One of the most modern ports in the region, Jebel Ali is fully equipped to meet the needs of local and international land transportation. DP world free zone which is the world’s 9th largest container port plays a vital role in serving the world markets as a premier gateway connecting more than 140 ports worldwide. It has the world’s largest man-made harbour. One of the most modern ports in the region, Jebel Ali is fully equipped to meet the needs of local and international land transportation.

DP World investment deal in Berbera contributed second source of income to Somaliland and this will open further investment in Somaliland, this because Business and diplomacy found fertile ground in Somaliland. Somaliland ’fertile 800km of coastline located in a strategic location at the nexus of the Gulf of Aden and Red Sea. Somaliland is a bridge that connects three continents namely Africa, Asia and Europe. The port to be made will open a new point of access to the Red Sea and will complement DP World’s existing ports in Africa. Our vision for Berbera is to make it a regional maritime hub in the Horn of Africa, and its development will encourage growth for the region’s economy and boost local prosperity with jobs for the people of Somaliland and future generations,” said DP World group chairman and chief executive Sultan Ahmed bin Sulayem.

This investment deal highlighted the commercial position and importance of the Port of Berbera as a Red Sea gateway for the Middle East and Africa. DP world investment deal in Berbera has deepened the strategic ties between Somaliland, UAE and neighbouring and Ethiopia. The investment deal between Somaliland and DP world has captured and attracted the international media coverage. The deal has captured international media headlines which mean Somaliland news has captured the attention of the international media coverage across the world like Washington post, financial times, Reuter’s news agency, the associated Press (AP), AFP and plenty of other business magazines and journals. Media coverage facilities to reach thousands of people being means of communication. Media like television, radio and the Internet enhance our knowledge by providing access to information from all over the world.

As technology advances, media has always played a huge role in our society. In some cases, media helps us to increase knowledge that we cannot get from books. . DP world investment in Berbera has put Somaliland in world political and Geographical map. This investment deal made Somaliland the political players in the region. Even the big powers like those who have veto power like USA need allies and friends, likewise Somaliland which is not politically recognized country needs political allies friends like the rest of the world. Somaliland’s role in the region is changing as key players in the Gulf are waking up to its strategic location. The horn of Africa countries has been a trading partner of Dubai throughout history. DP World investment in Berbera has strengthened the relationship between Somaliland and the UAE that existed over centuries.

There are a lot of businessmen from around the world that has been setting up a business in Dubai. UAE has long been recognized as the Middle East’s leading economic and commercial hub. . Expressing the importance of working with the governments of Somaliland and Ethiopia on the projects which will fuel trade and employment opportunities in the region, DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem, said: “I am so excited about the prospects of working with the Ethiopian government. We are excited by Somaliland’s development opportunities which have parallels with the start of our own growth in Dubai and the UAE,” said DP World Group chairman and CEO Sultan Ahmed Bin Sulayem. . The deal is expected to provide an economic boost to the Horn of Africa and the other land-locked countries. DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said.

The CEO added, the economies of the region are growing at a pace that needs the development of Berbera supplementing Djibouti and additional gateways in the future. In a statement, Sultan Ahmed Bin Sulayem, expressed the importance of working with the governments of Somaliland and Ethiopia on the projects, which will fuel trade and employment opportunities in the region. World Group Chairman and CEO continue saying. Investment in this natural deep water port will attract more shipping lines to East Africa and its modernisation will act as a catalyst for the growth of the country and the region’s economy. Our global expertise in marine and inland terminals coupled with our free zone experience will be enable Somaliland to develop and provide a benefit to society for the long term, creating employment for current and future generations said by DP World group chairman and chief executive Sultan Ahmed bin Sulayem.

The investment deal will attract more shipping lines to East Africa and its modernisation will act as a catalyst for the growth of the country and the region’s economy,” DP World chairman Sultan Ahmed Bin Sulayem said. The agreement will help Ethiopia secure an additional logistical gateway for its ever-increasing import and export trade driven by its growing population and economy.

The extension of the port will increase capacity of the region to accommodate the increase in trade. The agreement forecasts that almost a third of Ethiopia cargo traffic might be funnelled through Berbera. The agreement will help Ethiopia secure an additional logistical gateway for its ever increasing import and export trade driven by its growing population and economy. . The investment deal offers an opportunity development for Somaliland. Located on the southern coast of the Gulf of Aden, Berbera offers base at the entrance to the Red Sea and the gateway to the Suez Canal. Somaliland is close to vital oil routes and its ports could also serve landlocked Ethiopia, which has a population of 100 million. Gulf Arab countries mainly UAE and Saudi Arabian had trade and religious ties with Somaliland for centuries.

Privatisation like Somaliland port of Berbara investment has many benefit for Somaliland economic growth. Somaliland government recognizes the importance of including the private sector in policy decisions. The benefits of privatisation are to deliver effective and efficient services to the public and to achieve social goals they were set up to attain. Developing countries recognised aw privatisation as a golden opportunity.. Somaliland sees the deal as an “economic transaction. The investment deal will make the port as a regional trade and logistics hub.

Berbera will see amount of increased traffic in view of port deal that will generate business boom and also will open a new global port operator an alternative hub to Djibouti in the Horn of Africa. Somaliland port deal with DP world will be ‘channel growth for Somaliland as the port will attract more shipping lines to east Africa and will be regional trade logistics hub. It will attract more investment in Somaliland.

DP world investment deal with Somaliland has encouraged other investors to investment in Somaliland. Being one best investment destinations in horn of Africa, Singaporean company has registered to investment in Somaliland. Singapore New Silk Somaliland Energy Co. (SNSSEC), has officially contracted a lease to build an oil refinery in the Somaliland Red Sea port of Berbera. Somaliland vice President Mr. Abdirahman Sayli’i has laid the foundation stone of an oil refinery in the strategically located port town of Berbera on February 09, 2019. The company also expressed that they will also focus on road and electricity development projects.

the company will give job opportunities for the first batch of 400 trainers at the national service program will be employed at the oil refinery plant in a bid to reduce unemployment in Somaliland. Berbera Oil Refinery a multimillion dollar project partnership between Somaliland and Singapore. Somaliland vice President Mr. Abdirahman Sayli has congratulated on new silk firm which has established its first plant on oil refining. We are seeing the results and we are thrilled that the world is at long last wakening up to the reality that is Somaliland said by the vice president. He urged the public to attract investors and welcome to the country.

Ismail Lugweyne