DP World has signed a Memorandum of Understanding (MoU) with the Angolan government to develop the country’s trade and logistics sector.
Under this new MoU, both parties will 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.
The agreement was signed in Luanda by Eugenio de Lima Fernandes, National Director for Concession Economics, and Suhail Al Banna, CEO and Managing Director for DP World Middle East & Africa region.
This was done 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 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 the Minister of Transport.
“With this partnership, it will be possible to promote and boost Angola’s industrial development, as well as its cross-border and international trade.”
DP World previously took control of the Multipurpose Terminal at the Port of Luanda in March 2021, after signing a 20-year concession agreement in January of that year.
Since then, the terminal has made significant investments in new equipment and facilities, technology, and the development and training of staff as part of a $190 million investment over the term of the concession. This included the purchase of 30 new high-performance tractors.
The DP World CEO added: “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.
“The Angolan government has an ambitious plan for this sector, and through this MoU, our primary objective is to find a way in which we can support the country to significantly maximise its strategic location and increase trade flows domestically and in the surrounding region.”