DP World will build a business park that will initially cover an area of 50 hectares in the port city of Walvis Bay (Namibia).
A preliminary agreement was signed between DP World, Dubai and the Nara-Namib Free Economic Zone, announced Tuesday, November 12, DP in a statement.
According to the same source, “this park will be a” free economic zone “for industry and logistics. It could eventually spread over 1,500 hectares.
DP also announced that it wants to reach a final agreement with Nara Namib in the second quarter of 2020.
The port of Walvis Bay is an important logistics port in the Southern African region.
Goods from Zambia, Angola, the Democratic Republic of the Congo, Botswana and Zimbabwe transit by sea at the port of Walvis Bay.
For the record, an economic free zone has the major objective of attracting investors through a regulatory framework incentive including tax relief, customs, tax and social facilities.