Dubai, UAE – DP World DB World Group and Gulf Cup Africa Group, based in Kenya, signed an agreement to establish the Mombasa Industrial Complex in the presence of Dr. William Samui Ruto, President of the Republic of Kenya. Which will be established as a special economic zone on an area of 222 hectares.
This agreement comes as a continuation of the partnership announced by DB World and Gulf Cup Africa Group early last August. This advances the project’s development plans and reinforces DB World’s drive to expand its investments in Kenya. Developing an integrated industrial and logistical infrastructure that supports trade and investment in the East African region.
Attracting foreign direct investments
The first phase of the special economic zone covers an area of 40 hectares. Through its design, the project aims to attract foreign direct investments. Expanding local manufacturing capabilities and strengthening links between Kenyan companies and regional and international markets.
More than 60 local and international companies have expressed interest in acquiring space within the special economic zone. The project is expected to contribute to creating more than 20,000 direct and indirect job opportunities upon completion.
new avenues
The project is also expected to open new horizons for suppliers and service providers in Kenya, including small and medium-sized companies. And to enhance the connection of Kenyan companies with regional and global supply chains.
Companies operating in the complex will be able to benefit from Kenya’s trade agreements that give them access to key markets. Foremost among these are the African Continental Free Trade Area and the Economic Partnership Agreement with the European Union. And the Comprehensive Economic Partnership Agreement with the United Arab Emirates.
