Reveals Zamzam Abdi Aden, Country’s Money minister as she likewise confirms that the remaining $5 million of the Dubai Port World deal will be used for buying Materials for Berbera Port.
By: Mahmoud Qodah
Somalilandsun –Somaliland Finance Minister MS. Samsam Abdi Aden for the first time spoke about the 15 million paid as a“royalty or entry fee” a term that many calls ‘Xaqul-Qalin’ by the Dubai Port World Company which hassigned a $442 million agreement with the government of Somaliland Republic to operate in Berbera Port. According to the DP World Company, The two parties (Somaliland and Dubai) agreed to form a joint venture company that will “invest and manage” and transform the port into a “regional and logistic hub.
The Somaliland project involves the setting up of a free zone and is part of a larger memorandum of understanding between the Dubai and Republic of Somaliland governments to strengthen strategic ties.
“The 15 million will be paid in check and is an ‘Entry Fee’ and not a ‘xaqul qalin’ as such 10 m of this money will be added to the national budget and will be part of the supplementary budget. Thanks to God it will be a support to the country’s budget as we have experienced a serious tragedies resulted by the recent droughts which have lead the loss of lives of both human and livestock in our country,” Minister of Finance MS.Zamsam Abdi Aden.
MS. Zamsam added that the remaining 5 million will be paid for the tags that will be bought for the Berbera.
“Though the World Bank has pledged that it will buy a tag for the port, but still Berbera Port needs to have both or more tags.”
On the other hand Country’s Money Minister has likewise talked about her minister’s dynamic role in providing emergency relief aid to the people who have been seriously affected by the recent droughts.
About Somaliland and DP World Agreement:
The Port of Berbera is intended to become a hub and sea route for the Ethiopian market mainly, one of the world’s fastest-growing economies. Investment in the port will attract more shipping lines to east Africa, and also complement DP World’s services in Djibouti, according to Bin Sulayem.
The National quoted Saad Ali Shire, Somaliland’s minister of foreign affairs and international cooperation, as saying: “This agreement is opening a new chapter to gaining foreign investment by Somaliland. This deal should enhance job opportunities to youth of the country.”
Most of Somaliland intellectuals, Youth, Politicians have highly welcomed what they overall called a historic trade agreement and an investment that will open more doors for an investment in Somaliland.