The signing of the Memorandum of Understanding (MOU) between Al Qudra Holding, a leading investment company in the UAE, and the Mauritanian government opens new vistas for commitment, cooperation and mutual gain.
Present during the signing were Salah Salem Al Shamsi, Chairman and Managing Director of Al Qudra Holding and Mohammad Abdullah Weld Eyyaha , Director of Mauritania’s Investment Development Authority. “The MOU aims to commence a carefully-drawn blueprint of development in various economic sectors of Mauritania, through investments and infrastructures, real estate, fishing, agriculture and tourism. There is an immense potential and we see great possibilities for their people and their beautiful country. The timing is right for the dynamic pursuit of developments in these fronts,” conveyed Eng. Salah Al Shamsi.
Mohammad Abdullah emphasized that: "Our government is taking every step to ensure that our vision for the country will be realized in the near future. A big step indeed relies on the success of this momentous partnership with Al Qudra Holding, an organization we hold in high esteem, and with which we hope to build stronger ties in the years to come.”
As a former French colony, Mauritania is still heavily dependent on agriculture, livestock and fishing to this day. Their landscape is predominantly comprised of flat terrains, alternating between dry, arid deserts and robust soil. Bordered by the Atlantic Ocean, their coastal waters are among the richest fishing areas in the world. They are rich in natural resources, with extensive deposits of iron ore and large reserves of oil were just discovered in 2001. Profits from oil alone are expected to balloon to millions of dollars in 2008.
