Dubai World, the investment arm of the Dubai Government, aims to invest in port, logistics parks and hotel developments in the West African country of Congo, a senior official of the holding company said on Sunday.
The conglomerate is exploring the possibility of investing in Pointe-Noire port and plans to set up logistics parks to support it, Dubai World Chairman Sultan Ahmed Bin Sulayem said during his meeting with Congo President Denis Sassou-Nguesso. Highlighting the vital role played by logistics parks in developing business for ports, Bin Sulayem pointed to the example of Jebel Ali port and free zone and the synergy that exists between the two.
“Together, the port and free zone have been instrumental in the development of Dubai as the leading business hub in the Middle East. Today about one-fourth of Dubai’s GDP (gross domestic product) is contributed by Jebel Ali Free Zone, and Dubai World has the capability and the expertise to replicate this model anywhere,” he added.
Bin Sulayem, who, along with a number of senior Dubai World officials, is touring West African states in search of investment opportunities, also met several ministers, and held discussions on investments in the mining and tourism sector.
Bin Sulayem praised the Congolese Government’s efforts to reduce its dependence on oil revenues and diversify the economy, noting that the tourism sector can play a vital role in the country’s economic development.
He discussed the establishment of a five-star hotel and a number of resorts in the country to offer a variety of tourist attractions.
Congo-Brazzaville’s largely untapped mineral resources were also discussed during the meetings, and Bin Sulayem expressed his keen interest to invest in the mining sector in the country.
The country has vast amounts of natural resources in the form of petroleum, wood, potash, lead, zinc, uranium, phosphates and natural gas, as well as hydropower potential.
Currently, more than 85 per cent of the African country’s export earnings are from petroleum.
Dubai’s non-oil direct trade with Congo has amounted to more than Dh363.25 million.
The conglomerate is exploring the possibility of investing in Pointe-Noire port and plans to set up logistics parks to support it, Dubai World Chairman Sultan Ahmed Bin Sulayem said during his meeting with Congo President Denis Sassou-Nguesso. Highlighting the vital role played by logistics parks in developing business for ports, Bin Sulayem pointed to the example of Jebel Ali port and free zone and the synergy that exists between the two.
“Together, the port and free zone have been instrumental in the development of Dubai as the leading business hub in the Middle East. Today about one-fourth of Dubai’s GDP (gross domestic product) is contributed by Jebel Ali Free Zone, and Dubai World has the capability and the expertise to replicate this model anywhere,” he added.
Bin Sulayem, who, along with a number of senior Dubai World officials, is touring West African states in search of investment opportunities, also met several ministers, and held discussions on investments in the mining and tourism sector.
Bin Sulayem praised the Congolese Government’s efforts to reduce its dependence on oil revenues and diversify the economy, noting that the tourism sector can play a vital role in the country’s economic development.
He discussed the establishment of a five-star hotel and a number of resorts in the country to offer a variety of tourist attractions.
Congo-Brazzaville’s largely untapped mineral resources were also discussed during the meetings, and Bin Sulayem expressed his keen interest to invest in the mining sector in the country.
The country has vast amounts of natural resources in the form of petroleum, wood, potash, lead, zinc, uranium, phosphates and natural gas, as well as hydropower potential.
Currently, more than 85 per cent of the African country’s export earnings are from petroleum.
Dubai’s non-oil direct trade with Congo has amounted to more than Dh363.25 million.