Somaliland secures record $442m foreign investment deal

(CNN)The unrecognized nation of Somaliland, a semi-autonomous region of Somalia, has secured its largest ever foreign investment deal.

Dubai-based development firm DP World will pump $442 million into transforming the country’s Berbera Port on the Gulf of Aden, with the ambition of creating a regional trade hub.
DP World has committed to managing the port for 30 years. The company plans to develop an ambitious new shipyard, quay, and free trade zone on the site.
The Somaliland government hopes the development will enable it to rival neighboring Djibouti as a point of entry for East African trade, and the project could also prove a much-needed economic boost.
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