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HORN OF
During October 2004, the Puntland State of the Federal Republic of Somalia, commissioned World Investments Pty. Ltd. of Sydney, Australia in cooperation with HAFZA Finance Pty. Ltd. (HAFZA) as the operating body for establishing several free zones throughout Puntland. HAFZA operates under the business name of the Horn of Africa Free Zone Authority (HAFZA).
The philosophy of HAFZA is that, although it is a private corporation, it is to be considered as one of the government’s tools so as to enhance the region economically. HAFZA proposes to achieve this with the development of new and/or redevelopment of existing sea and airports throughout Puntland.... all operating as Free (tax exempt trade) Zones including a rail link to the proposed Wardher, Free Zone within Ethiopia .
In addition, the
In most cases with Free Zones established in other parts of the world, the majority are established by the ruling governments. Those free zones operate with exemptions and facilities to qualify as an investment attraction area for export industries and international trade exchange and/or transit trade.
By appointing HAFZA to operate the Horn of Africa Free Zones (hereinafter referred to as HAFZ) it allows investors, developers and major contractors to participate with HAFZA in growing a whole new frontier and share in the wealth by reaching into the heart of Africa and local regions.
