The UAE-headquartered global operator DP World and the government of Angola, have agreed to join forces to develop the trade and logistics sector of the African country.
The cooperation of the two parties was confirmed by the signing of a Memorandum of Understanding (MoU) on 2 February in Luanda, the capital of Angola.
The MoU paves the way for DP World and the Angolan government to enter into formal discussions to explore cooperation in the areas of ports and terminals, special economic zones and logistics parks, cross border trade facilitation, trade finance and marine services, as well as logistics support in other commodity-based sectors.
“With this partnership, it will be possible to promote and boost Angola’s industrial development, as well as its cross-border and international trade,” stated Ricardo Viegas d’ Abreu, Angola’s Minister of Transports.
DP World began operations at the Multipurpose Terminal (MPT) at the Port of Luanda on 1 March 2021 after it was awarded a 20-year concession to manage, operate and modernise the facility. Since then, DP World Luanda has invested in new equipment and facilities, technology and the development and training of staff, as part of a US$190 million initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa.
Sultan Ahmed Bin Sulayem, chairman and CEO of DP World, commented, “Alongside the Multipurpose Terminal, there is still tremendous opportunity to further develop and integrate the country’s logistics and trade infrastructure and unlock more economic benefits.”
He added, “The Angolan government has an ambitious plan for this sector, and through this MoU, 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.”
