Mauritania: Islamic Corporation for Development partners Nouadhibou Free Zone Agency
Authorities of Nouadhibou’s Free Zone Agency and those of the Islamic Corporation for the Development of the Private Sector (ICD) have inked a Memorandum of Understanding (MoU) geared towards joining their efforts in establishing a prosperous cooperation in diverse sectors. The agreement will be a gateway to strengthen their partnership in developing the private sector and promote other investment opportunities.
The Chief Executive Officer of ICD, Khaled Mohammed Al-Aboodi, said the MoU is part of their efforts “to overcome the difficulties faced in developing Special Economic Zones by availing the appropriate advisory services in meeting the requirements of our partners in the Member Countries.” He added that this could only be done by reinforcing “internal capabilities” and implementing feasible ideas into projects. ICD is a branch of the Islamic Development Bank Group.
One of the projects to be soon implemented is the strengthening of the capacity of surface cooling and conversion of the fishing sector. There are plans to also establish institutional and operational structures to serve the sector.
President Mohamed Ould Daf of the Free Zone Authority of Nouadhibou is happy with the MoU and hopes that the strategic partnership with the Islamic Corporation for the Development of Private Sector Development will be of great use to the beneficiaries. Special programs for technical cooperation and exchange of experiences with different partners will also be enhanced.
Both partners have agreed to develop a joint plan of cooperation to strengthen the capacity of the Free Zone Authority of Nouadhibou by mandating the ICD as the adviser to the Free Zone Authority.
The Free Zone gives priority to projects that can utilize the city’s resources such as the huge fishing industry and be able to strengthen the capacity of this sector.