Dubai-based global marine terminal operator DP World’s group chairman and chief executive officer Sultan Ahmed Bin Sulayem recently met with President of Mozambique Filipe Nyusi and discussed partnerships and economic cooperation with the country.
The senior officials met during the recent Financial Times Mozambique Summit in Maputo, and spoke about Mozambique’s growing trade and logistics sector, sharing views on the opportunities and challenges that lie ahead, said a statement from DP World.
The officials also talked about finding solutions to develop and connect Africa’s intra-regional trade routes to unlock the continent’s huge potential, it said.
Bin Sulayem also delivered a keynote address at the summit on the importance of partnerships, preceding a discussion entitled ‘Accelerating Infrastructure Transformation: Improving Ports, Roads, Airports, Marine Services, Telecommunications and Power Sector’, it added.
Bin Sulayem said: “I have been to Mozambique many times and on another recent tour of Africa I’ve seen first-hand how each country is unique.”
“Development solutions lie in partnership of governments, trading blocks in Africa and the private sector. Investors want to see policy frameworks, regulations and governance that are promoting trade and development,” he said.
“Africa has great potential and eight of the world’s top 20 fastest growing economies are still located here. Intra-regional connectivity through multi modal infrastructure, supported by investor friendly policies and regulation, and coupled with innovation are the keys to Africa’s potential,” he added.
“We’ve always expressed our readiness to support the development of ports and logistics centres in Africa. We’ve partnered with local governments in all seven of our ports in six African countries and look forward to developing our trade relations further in future years,” Bin Sulayem concluded.
According to the DP World official, major indicators show a promising future for a vast continent filled with opportunities. There has been 6 per cent growth in number of foreign companies investing in Africa and they are thinking long-term – investments into infrastructure related areas like power, construction and ICT have accounted for 44 per cent of total FDI into the region.
He further noted that there is still a need to address the soft infrastructure gap and better internal trade integration is key.
Trade between Dubai and Mozambique was valued at over Dh724 million ($197.1 million) in 2015 and over Dh776.5 million ($211.4 million) in the first six months of 2016, while showing a significant increase in re-export trade in the last six months, it stated.