Dubai World looks at investing in port, logistics parks, mining and leisure sectors in Congo

Published April 13th, 2008 - 01:17 GMT

Dubai World explored the possiblity of  investing in the port at Pointe-Noire in the Republic of Congo, and the setting up of logistics parks to support it, among other investment opportunities when Chairman of Dubai World, HE Sultan Ahmed Bin Sulayem met the President HE Denis Sassou-Nguesso during his visit to the Republic of Congo on Saturday (April 12, 2008).

Highlighting the vital role played by logistics parks in developing business for ports, Mr. Bin Sulayem pointed to the glaring example of Jebel Ali port and free zone and  the synergy that exists between the two in Dubai.

“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 is contributed by Jebel Ali Free Zone, and Dubai World has the capability and the expertise to replicate this model anywhere,” he added.

Mr. Bin Sulayem, who, along with a number of senior Dubai World officials, is currently touring West African states in search of investment opportunities, also met various ministers, and held discussions on investments in the mining and tourism sector.

Mr. Bin Sulayem commended 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 5-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 the Dubai World Chairman expressed his keen interest in investments in the mining sector in the country.

The Republic of Congo (Congo-Brazzaville) 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 percent of the country’s export earnings are from petroleum.

According to Dubai World’s Statistics Department, Dubai’s non-oil direct trade with the Republic of Congo amounted to over AED 363.25 million, including imports, exports and re-exports.


 


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