The government of Somaliland has set the stage for the launch of free trade zone in Berbera after passing relevant laws.
Earlier, the House of Representatives passed the Free Trade Zone Bill, and all that remains now is for President Muse Bihi Abdi to assent it into law.
Once that happens, Berbera Free Trade Zone would be free to start operations in 2022, when President Bihi is scheduled to launch it.
The free trade zone sits on 12kms square of land in Berbera Port City.
When launched, the Berbera Free Trade Zone is likely to compete with the Djibouti International Free Trade Zone (DIFTZ).
Currently, DIFTZ is considered the largest in Africa with investments totaling US$3.5 billion. FIFTZ also sits on an area measuring 4,800ha.
Berbera Free Trade Zone is modeled on Dubai’s Jebel Ali Free Trade Zone (JAFZA), which is operated by DP World.
The government of Somaliland has mandated DP World to manage Berbera Port.