#DP World has signed a lease and partnership agreement with United Arab Emirates food producer #IFFCO for an edible oil packing plant in the Berbera Economic Zone
Araweelo News Network.
UAE group IFFCO invests in SOMALILAND.
DP World has signed a lease and partnership agreement with United Arab Emirates food producer IFFCO for an edible oil packing plant in the Berbera Economic Zone (BEZ) in Somaliland with a 25 year lease.
The IFFCO Group will develop a 300,000 square foot edible oil processing factory at the port of Berbera in Somaliland. It will be the second largest international investment following DP Berbera’s investment.
The IFFCO Group, founded in 1975, is an international corporation based in the United Arab Emirates. IFFCO manufactures a wide variety of food products, covering over 20 different products, with a worldwide presence in 40 countries and a portfolio covering food, chemicals, packaging and a wide range of products.
IFFCO runs 80 manufacturing businesses in 37 countries with a global turnover of more than $9.5 billion and a labour force of more than 12,500 employees.
In 2021, IFFCO was ranked 15th Top Global Specialty Oil Company by FoodTalks.
This represents a significant opportunity and potential job creation for SOMALILAND, which will transform the Somaliland economy further in all aspects fundamentally and substantively.
This is good news, which will surely create and provide new jobs for the young people of SOMALILAND. Job creation is a key social policy and employment priority for SOMALILAND or any other nation.
I always was an ardent advocate and supporter of DP’s world Berbera investment in 2016, where many of us were opposed to the expansion of the port in an unclear and erroneous grounds.
I was supporting DP World because some of you and I knew that this would further improve and increase Somaliland’s economy remarkably and that this will set the stage for further international investment in SOMALILAND.
I have always known that the growth and modernization of the port of Berbera will trigger the stimulation and the revival of the economy of SOMALILAND in a spectacular and remarkable way.
The on-going improvements to trade infrastructure in the Berbera corridor should significantly improve economic opportunities for Somaliland businesses and will further enhance the quality of life of Somaliland people, by increasing availability and reducing the cost of essential imported goods. This will definitely promote economic growth in Somaliland.
Following the arrival of UAE’s DP world investment of Berbera port and the free zone that followed shortly thereafter, DP World promptly attracted the mighty UK’s CDC investment to Somaliland, followed by IFFCO which signed a 25 year agreement with the DP world this week
Check IFFCO Global Website
On May 10, 2016, I wrote the accompanying articles in support of mass investment in the port of Berbera. I have written many articles emphasising the benefits of DP World and any international investment in SOMALILAND.
The following articles are a few articles that I wrote in favor of the investment of DP Berbera World. Araweelo News, is the network that published the most news about DP World investment .I’m sure I’ve written more than the three that are attached here.
The partnership between DP World, the CDC Group of the United Kingdom and IFFCO’s investments in Somaliland will subsidize billions of millions of pounds into SOMALILAND economy and infrastructure and will certainly attract further heavy international investment towards SOMALILAND, that in the near future will not only increase the capacity of the port, but will also upgrade the surrounding logistics facilities to create a regional commercial hub.
The expansion of the Port of Berbera will not only boost the economy of Somaliland, but will also greatly increase the economy of Ethiopia and the whole of East Africa and beyond.
The port of Berbera will also elevate the export industries currently handicapped by logistical ineffectiveness.
The partnership between DCC, DP World and IFFCO will be beneficial for all institutions and will lead to infrastructure changes and will vastly revolutionise the opportunities for millions of people in the Horn of Africa over the next decade.
The port of Berbera will also play a key role by allowing
humanitarian assistance into the region. The port will also be a gateway to the international market for Somaliland enterprises and entrepreneurs and to support the growth of the evolution of export industries handicapped today by logistical inefficiencies.
Finally, this combined plan will also help SOMALILAND entrepreneurs and companies accelerate their growth by providing them with access to reliable trade channels and it will help consumers in the Horn of Africa benefit from the improved reliability and cost reduction of essential goods and foodstuffs.
This will provide vital economic stimulus for Somaliland and support development throughout the Horn of Africa region. Various other sectors should benefit from the port’s expansion, including exporters of livestock, agricultural and perishable products, textiles and building materials.
In addition, commercial exchanges facilitated by the port will increase the availability and affordability of goods for the people of Somaliland, whose greatest advantages are felt by those who depend on the main imported food products.
As soon as the short-term and long-term expansion plan is finalized, this will stimulate trade and is expected to generate new job opportunities.
First, let us thank Almighty God for peace and all the good things that have been bestowed upon us when many neighboring countries are at each other’s throats.
Second, we are grateful and deeply appreciated for DP WORLD’s unprecedented and unprecedented investment in Somaliland and for being here first, I also want to thank CDC and IFFCO for being here.
Contributed by Ahmed Yasin jama for Araweelo News Network.