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Somaliland Passes Law Paving Way For Launch Of Free Trade Zone


Somaliland lower house has approved the Free Trade Zone law giving clearance for the launch of the Berbera Free Trading zone in the country.

The house gave clearance for the completion of the Free Zone which is situated on 12 square kilometres land in the Port City of Berbera and is expected to be opened in 2022.

The Berbera Free Zone will offer stiff competition to the Djibouti International Free Trade Zones (DIFTZ) which is currently considered as Africa’s biggest trade zone with a total investment of $3.5 billion and span an area of 4,800 hectares.

The Berbera Free Zone is modelled on DP World’s Jebel Ali Free Zone (Jafza) in Dubai and aims to attract investments, encourage trade, create new jobs and position Berbera as a gateway port for the region.

The free zone will house various businesses including warehousing, logistics, traders, manufacturers and other related businesses

In December 2019, Somaliland President Muse Bihi and the Vice President of the DP World Suhail Al Banna officially signed the agreement setting the stage for the construction of the project.

“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,” said Al Banna.

“It’s also a boost for local prosperity — jobs for the people of Somaliland and future generations. We look forward to bringing our global experience here and to help develop the Berbera Corridor, which is key to encouraging regional economic activity,” he added.

But the Berbera Free Zone will have to compete with the Djibouti Free Zone which was launched in May 2018.

Just like the Djibouti Free Zone which is linked to the Djibouti Port, the Berbera Free Zone will be linked to the Berbera Port which is in its final stages of expansion by the DP World and is expected to be officially opened by April.

The Berbera Port is already posing a threat to Djibouti.

Djibouti’s port is the main transit point for imports to and exports from Ethiopia, but the government in Addis Ababa wants to diversify its options with Berbera as its main option.

In 2016, Somaliland signed a 30-year contract with United Arab Emirates-owned DP World, the world’s third-largest port operator, to manage and expand the port at Berbera. The joint-venture Berbera deal is between Somaliland (30%), DP World (51%), and Ethiopia (19%).

The port of Djibouti container terminal currently has a handling capacity of 350,000 ten for equivalent units (TEUs) per annum while once complete, Berbera’s containerized cargo capacity will hit 450,000 TEU per year.


Great Progress from Jamhuriyada Barakaysan
:banderas::rejoice:
 
"The Berbera Free Zone is modelled on DP World’s Jebel Ali Free Zone (Jafza) in Dubai and aims to attract investments, encourage trade, create new jobs and position Berbera as a gateway port for the region."

:rejoice:
 
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This law was one of the obstacles facing the construction of the Free Zone. After the President signs this into law within 30 days, then it is all systems go for the Free Zone.
 

FBIsomalia

True Puntlander
VIP


Reer Laasanood wants more seat in Sool after Jeegaan take half of the seats.
Let them try to come to Boocaame :pachah1: .

But I like they accepted Buhoodle and Cayn out of reach :obama:.
 

SirLancelLord

Reformation of Somaliland
VIP


Reer Laasanood wants more seat in Sool after Jeegaan take half of the seats.
Let them try to come to Boocaame :pachah1: .

But I like they accepted Buhoodle and Cayn out of reach :obama:.

Don't know much,

What subclan is in boocaame & Laascaanood.

This could be a dhulbahante rivalry thing as maybe one dhulbahante subclan wants to be on top and more powerful than all of the clan.

Laascaanood dowlada hoose and Badhasaab (governor) is dominated by one clan who control the Army Barracks check points customs. They just wanna stretch their power.
 

DR OSMAN

AF NAAREED
VIP
@TabK why didn't your futo come into the new garowe drainage system being developed, while your city remains in mud and being overflowed like it's some damn sewage, garowe majerten holy capital is ensuring our run off water from rains goes thru proper drainage sewage networks outside the city, in-fact we may even recycle that water as a 'dam' for local nomads or we may using it to 'irrigate' park lands so me and u can sit in 'garowe' my capital as we speak about your sewage xaargaysa and all the filth and health problems from no town planning
 

Gibiin-Udug

Crowned Queen of Puntland. Supporter of PuntExit
They come to Xamar for work and then blow innocent people.

Disgusting, how do you claim Muslim and kill innocent people, that speak the same language as you.

 
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