DR Congo wants UAE investors in its vast mineral resources

DR Congo wants UAE investors in its vast mineral resources

President His Highness Sheikh Mohamed bin Zayed Al Nahyan (right) with President Felix Tshisekedi of the Democratic Republic of the Congo Credit: UAE Presidential Court

sand sand – The Democratic Republic of the Congo is inviting investors from the United Arab Emirates to take advantage of the country’s vast investment opportunities. From mining to agriculture and fishing to health, the Democratic Republic of the Congo is a global center for key industries worth billions of dollars.

This was revealed by Trade Minister Jean Lucien Busa in a speech at the 2023 Annual Investment Conference in Abu Dhabi, with senior DRC government officials saying the country’s ongoing legal and tax Reforms are getting ready for business.

Mr Bussa singled out the country’s young population and borders to nine countries as key selling points as a top investment destination. “We are removing non-tariff barriers,” Mr Busa said.

Attracting mega-ships from Asia and Europe Since Felix Tshisekedi became president in 2019, his government has embarked on attracting international investors, raising hopes for economic growth, Mr Busa said. explain.

The UAE’s influence in the Democratic Republic of Congo has grown. In February 2022, logistics giant DP World began construction of a banana port on the Congo River near the capital Kinshasa.

The port is expected to attract large ships from Asia and Europe, facilitating the DRC’s connection to international supply chains.

The project includes the construction of a deep-water port, container terminals and other important logistics infrastructure.

Using the latest technology, DP World is constructing a 600-meter-long jetty with a draft of 18 meters, suitable for berthing mega-vessels. Banana Port has an annual container handling capacity of approximately 450,000 TEUs (20-foot equivalent units) and a container yard covering an area of ​​30 hectares.

Transforming Banana Port into a Modern Logistics Hub Overall, DP World aims to transform Banana Port into a modern logistics hub, facilitating international trade and attracting investment to the region.

The country explained to investors that the port, road and rail systems are part of a new infrastructure investment in the DRC aimed at enhancing investment in other sectors.

In 2018, DP World signed an agreement with the government of the Democratic Republic of Congo to develop and operate the Banana Port. Historically, the natural resources sector has attracted the majority of FDI in the DRC.

With more than 1,500 minerals in the extractive industry, including copper, coltan, diamonds and nickel, investors in the UAE can be dazzled.
Globally, the Democratic Republic of the Congo controls rich mineral resources, including lithium and cobalt. Lithium is used to produce lithium-ion batteries for the electric vehicle industry, which is expected to be worth more than $850 billion by 2027.

The 12th annual investment conference in Abu Dhabi, UAE attracted attendees from 170 countries.

Galloway Online