Sultanate, Djibouti sign MoU to develop port

DJIBOUTI: The Sultanate, represented by the State General Reserve Fund (SGRF), signed an agreement on Thursday with the Djibouti Ports and Free Zones Authority (DPFZA), which aims to establish strategic cooperation in port development, investment, operation and management.
The memorandum was signed in the presence of Ismail Omar Guelleh, President of the Republic of Djibouti. It was signed by Abdul Salam bin Mohammed al Morshedi, CEO of SGRF, and Abu Bakr Omar Hadi, Chairman of DPFZA, on the sidelines of Transport Economic Conference (Intermodal Africa) currently being held in Djibouti.
The memorandum seeks to establish a framework that enables the two institutions to continue to work towards closer cooperation in the future and to conduct a comprehensive assessment of the opportunities in the field of logistics and new ports in Djibouti with a view to making joint investment and encouraging fruitful cooperation between the two sides.
SGRF invests in several ports in different regions of the world, such as the port of Kumport in Turkey and the port of Bhart, India, as well as the development of the port of Bagamoyo, Tanzania. — ONA