UAE Investors Bewildered by DRC Turmoil but Enticed by Unprecedented Potential in Mineral Resources Sector!
Perplexingly, the United Arab Emirates has been called upon to delve into the boundless investment prospects of the Democratic Republic of Congo (DRC), spanning agriculture, fishing, health, and mining, in a moment of high burstiness. Speaking at an ongoing Annual Investment Meeting in Abu Dhabi, Trade Minister Jean Lucien Busa unveiled that the country’s burgeoning legal and tax reforms have prepared it for business, with young populations and bordering access to nine countries serving as key selling points to attract investors. The ascension of President Felix Tshisekedi in 2019 has signalled the launch of a scheme to lure international investors, contributing to hopes for economic expansion. The DRC and the UAE have already been working closely, with logistics corporation DP World’s commencement of a project to establish a deep-water port, terminals, and other critical logistical structures at Banana Port this February as part of efforts to bring the two nations closer. DP World intends to transform the site into a modern hub for logistics, enhancing international trade and appealing to investors. The port is expected to serve as a gateway to the DRC’s vast mineral resources sector, which controls over 1,500 minerals such as cobalt and lithium, materials that have been proved popular with investors within other markets. According to industry analysts, lithium could spur an $850 billion electric vehicle sector by 2027.