Dubai-based largest port operator DP World has signed a Memorandum of Understanding (MoU) with the Government of Angola to further strengthen the country’s trade and logistics sector.
The MoU paves the way for formal discussions between the two parties to look into cooperating 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.
As per the reports, DP World began operations at the Multipurpose Terminal (MPT) at the Port of Luanda on 1 March 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 employee development and training, as part of a $190 million initial investment to transform the terminal into a major maritime hub along the western coast of Southern Africa.
“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 ways in which we can support the country to significantly maximize its strategic location and increase trade flows domestically and in the surrounding region.”
On this occasion, Angola’s Minister of Transport Dr. Ricardo Viegas de Abreu commented that, “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. With this partnership, it will be possible to promote and boost Angola’s industrial development, as well as its cross-border and international trade.”
Following the implementation of the MPT’s development and modernization plan, the teams at DP World Luanda enhanced operational efficiency threefold within the first six months of starting operations.