DP World and the government of Angola have signed a preliminary agreement to work together to develop the country’s trade and logistics sector.
The memorandum of understanding, signed in Luanda this week, paves the way for the parties to cooperate on the development and expansion of ports and terminals, with their associated concessional tax zones and logistics parks. Alongside that, DP World will explore the finance and facilitation of trade and marine services.
DP World, which has been expanding its operations in Africa in recent years (see further reading), began a 20-year concession at Luanda’s Multipurpose Terminal last March. Since then, it has modernised the port’s equipment, facilities, training and technology as part of a $190m initial investment.
This has increased operational efficiency threefold over the course of 2021, partly by enabling the terminal to berth two large vessels at the same time.
Ricardo Viegas d’Abreu, Angola’s minister of transport (pictured, third from left), commented in a press release: “DP brings together the professionalism and skills necessary to drive the vision of an integrated and sustainable economy, with an effective and efficient logistics chain. With this partnership, it will be possible to promote and boost Angola’s industrial development.”
Ahmed Bin Sulayem, chief executive of DP World (pictured, second from left), added that his company was looking to improve the whole of Angola’s logistics. He said: “The Angolan government has an ambitious plan for this sector, and through this memorandum our primary objective is to find ways in which we can support the country to significantly maximise its strategic location and increase trade flows domestically and in the surrounding region.” said.