Dubai’s DP World has signed a preliminary agreement
with the Nara Namib Free Economic Industrial Zone to develop a dedicated
business park in the Namibian port town of Walvis Bay.
The park will be a ‘free economic zone’ for
industry and logistics and initially cover an area of 50 ha, according to a
statement on Dubai’s government media office website on Tuesday.
The park could eventually be spread across 1 500
ha, it said.
A free economic zone is often a dedicated area that
has different laws or rules, such as fewer or no taxes, designed to attract
investment.
DP World and Nara Namib aim to reach a final agreement in the second quarter of 2020, the statement said. http://www.engineeringnews.co.za/article/dubais-dp-world-signs-deal-to-develop-business-park-in-namibia-2019-11-13
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