CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Dubai's DP World To Develop Free Zone In Senegal

Dubai's DP World To Develop Free Zone In Senegal

by Lorys Charalambous, Tax-News.com, Cyprus

29 October 2015


Dubai's DP World announced on October 24, 2015, that it has signed a memorandum of understanding (MoU) with the Government of Senegal to set up a logistics free zone in the vicinity of the new Blaise Diagne International Airport in the outskirts of Senegal's capital city Dakar.

Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC) said that the new free zone will use state-of-the-art equipment and technology to operate and manage the zone. The project will also add new jobs for the Senegalese workforce, he said.

Bin Sulayem added that the new free zone complements DP World's investments in the DP World-Dakar Terminal "which stands as West Africa's largest and most modern container terminal after a new terminal was built in the facility in November 2011, doubling capacity to over 600,000 (twenty-foot equivalent units)."

At the end of last year, DP World acquired Economic Zones World FZE, a Dubai-based operator of free zones, including the Jebel Ali Free Zone (Jafza). Jafza offers a number of business incentives, including 100 percent foreign ownership, zero percent corporate tax for 50 years, zero percent import or re-export duties, zero percent personal income tax, and unrestricted repatriation of capital and profits.

TAGS: tax | investment | business | tax incentives | Senegal | tax breaks | trade | Dubai | free trade zone | Africa

To see today's news, click here.

 
















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »