UAE. Dubai World Chairman Sultan Ahmed bin Sulayem on 10 April met HE
El Hadj Omar Bongo Ondimba, the President of Gabon, during his visit to
the country.
Bin Sulayem is currently on a tour of West Africa along with senior
Dubai World officials, including representatives of Dubai World Africa,
the group's investment subsidiary dedicated to the continent. Dubai
World already has a sizable investment footprint in Africa and the West
African tour is aimed at expanding it.
In Gabon, Bin Sulayem and his team held extensive talks with
President Ondimba and his cabinet on matters of mutual economic
interest.
During the talks, Bin Sulayem, told President Ondimba, who is
currently Africa's longest serving leader, that he was deeply impressed
by the country’s political and economic stability, rapidly diversifying
economy and its prudent use of natural resources.
Gabon is one
of the more prosperous African countries, with a per capita income of
four times the average for Sub-Saharan Africa.
Offshore oil production plays a significant role in Gabon’s economy, which remains heavily reliant on its natural resources.
Speaking
about his tour of Africa, Bin Sulayem said: “Dubai World sees West
Africa as a region with huge potential for economic growth in the near
future. The emerging economies of the countries we're currently
visiting in fact represent the new Africa of the 21st century and have
a lot to offer the outside world. The principal purpose of our tour is
to explore and identify potential investment targets. Our business
strategy is to pursue prudent investments that serve the best interests
of all stakeholders.
Non-oil trade between Dubai and Gabon has been steady, with AED2.628
million worth of import from Gabon and AED12.875 million in export.
Re-export had a value of AED75.882 million in 2007.
Dubai World’s focus on Africa is in line with Dubai’s strong, time-tested trade relations with the continent.
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