His Excellency, the President of the Republic of Somaliland, Muse Bihi Abdi, yesterday officially inaugurated the Berbera Economic Zone built on the western outskirts of Berbera city.
President Bihi was accompanied by leaders of Parliament (Upper House), Cabinet Ministers, MPs, chairman of DP-world along with representatives from various companies that have signed up for this free market, all of whom spoke about the importance of this market for the Republic of Somaliland and the Horn of Africa region.
Prior to the start, the head of the IFFCO company, Mr. Abdul Jabbar along with Liz Lloyd, the head of the British International Investment Company (BII), welcomed the free trade center and spoke of how it is expected to attract potential international investors to Somaliland.
Minister of Finance Development Dr. Saad Ali Shire, who spoke there, explained the importance of this free market and how it will promote new investments in the country. Similarly, Chairman of DP-world, Sultan Ahmed Bin Sulayem, for his part, described the completion of the free market as a long-awaited success for the Republic of Somaliland, underlining how it will boost business in Somaliland.
President Bihi, who concluded the event, explained in depth the benefits of this market to the Somaliland community and HOA region. The president added that the construction of this free market along with previous projects implemented by the DP-world company in Berbera make the city ideally suited to handle the needs of nearby African countries without access to a port.
The Berbera Economic Zone is one of the many projects implemented by the DP-world company, aimed to further develop Somaliland’s economy such as the modernization of Berbera port, Berbera airport and the Berbera-Wajaale road (Berbera Corridor).