DP World and the Government of Angola signed Wednesday a Memorandum of Understanding (MoU) with the aim of cooperating to further develop the country’s trade and logistics sector.
The MoU paves the way for the two parties 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.
It was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, CEO and MD, Middle East and Africa Region, DP World, in the presence of Dr. Ricardo Viegas de Abreu, Angola’s Minister of Transport, and Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World.
DP World, the leading provider of smart logistics solutions, began operations at the Multipurpose Terminal (MPT) at the Port of Luanda on March 1, 2021 after it was awarded a 20-year concession to manage, operate and modernize 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 $190 million initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa.
"DP World is a strategic partner for the transport and logistics sector in Angola, because it brings together the professionalism and skills necessary to drive the vision of an integrated and sustainable economy, with an effective and efficient logistics chain,” said Angola's Transport Minister Ricardo Viegas de Abreu.
He added that with this partnership, it will be possible to promote and boost Angola's industrial development, as well as its cross-border and international trade.
For his side, Bin Sulayem said there is still tremendous opportunity to further develop and integrate the country’s logistics and trade infrastructure and unlock more economic benefits.
“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 maximize its strategic location and increase trade flows domestically and in the surrounding region,” he stressed.
The Emirati company said that following the implementation of the MPT’s development and modernization plan, the teams at DP World Luanda increased operational efficiency threefold within the first six months of starting operations.
The team also achieved the feat of being the first terminal in the country to handle two large vessels simultaneously.
