General Duke Posted February 11, 2005 Sheikh Muhammed bin Awad, We need more info on this company from their website I only got a very little information. However if they can finance the deal it would transform not only Puntland but Somalia as a whole. Its ambitious but I doubt they can pull this off. Remember the UAE was developed around their oil riches. Also there is no timeline to these supposed projects apart from a 99 year lease. INFRASTRUCTURE PROJECTS -------------------------------------------------------------------------------- HAFZA shall also be responsible for arranging funding and developing additional infrastructure projects outside the HAFZ areas shown below to generally assist Puntland as a whole and facilitate the various Free Zones areas (the “Infrastructure Projectsâ€). Toll Highways Garowe - Eil Gara’ad - Galdogob Basasso - Galkayo Garowe - Gumays Gara’ad - Aluula El Dodfar - Badhan Qardho – Iskushuban Miscellaneous Electrical Centre Plant Central Water Plant National University Establishing a banking facility Quote Share this post Link to post Share on other sites
Intel Posted February 11, 2005 Originally posted by Sheikh Muhammed bin Awad: Xaafuun sida ay u ekaan doonto marka laga dhigo waxa loogu yeray "Free Zone" haaheey Quote Share this post Link to post Share on other sites
Suldaanka Posted February 11, 2005 lol@ Sheikh Muhammed bin Awad No pun were intended in my post bro. I only asked if you could point the differences between the links I posted and the HAFZA thing. Besides the repeatation of the term "Puntland State" over ten times in one page, I saw not a difference. Copyright voilations I might add. Quote Share this post Link to post Share on other sites
Sky Posted February 11, 2005 SULDAAN SACADADIIN= ive seen the comparisons saaxib, but whats the point? ive closely observed the links on hafza of yemen's, irans's and dubai's free zone authorities. too bad djibouti had no link, djibouti would be the most helpful to get a clearer picure on this thing. and to the people who find this too good to be true, i understand. i was as sceptical myself, but suddenly it occured to me that the telecom company stg somali telecom group has offices and provides fast wireless internet in even the tiny towns. just check here= http://www.somalitelecomgroup.com/ the cities covered are on the front page. Quote Share this post Link to post Share on other sites
Major-General Cawad Posted February 11, 2005 Booweyaal I don't know what the fuss is all about. The website says it very clear and you can find out yourself. A little information about Hafz. ABOUT HAFZA LTD. (HAFZA) -------------------------------------------------------------------------------- HAFZA trades under the business name of the Horn of Africa Free Zone Authority. The company is registered in Calgary, Alberta, Canada. This registration is for the purpose of listing HAFZA on the Toronto Venture Exchange, prior to subsequent upgrading to the Toronto Stock Exchange. The reasoning for planning a listing so early in HAFZA’s operation of HAFZ, is the intent to include initial developers, investors and contractors participating in the development of HAFZ as the initial shareholders in HAFZA during the early days of development. Once HAFZA is a listed and quoted public company, it will give those shareholders, participating in the growth of HAFZ, an exit strategy and/or a potential capital gain on their participation, whilst at the same time enjoying full transparency in the development. HAFZA is to be primarily responsible for maintaining the shareholder register, listing requirements and funding the development of HAFZ. Under HAFZA’s agreement with the Puntland State, HAFZA must establish a branch office at the Dubai Airport Free Zone (DAFZ) for controlling the development of HAFZ in Puntland. The Branch office shall be a subsidiary company of HAFZA incorporated under the rules and regulations of DAFZ. One of these rules requires that HAFZA must provide the rights for the branch office to operate autonomously from HAFZA. The branch office arrangement at DAFZ has substantial tax benefits to HAFZA under Canadian law. In that regard HAFZA would be totally tax exempt in Dubai and Canada under Dubai and Canadian law for the end benefit of its shareholders by withholding dividends (Grant Thornton): “Business income earned by a foreign affiliate in a non-treaty jurisdiction will be subject to further tax in Canada as those earnings are repatriated as dividends. Credit will be given for any underlying foreign tax paid, so that the additional Canadian tax will only be due to the extent that the Canadian corporate rate is higher than the relevant foreign rate. Note that the earnings are subject to Canadian tax only on repatriation to Canada as dividends so that to the extent the earnings are retained in the foreign jurisdiction, no additional Canadian tax will be triggeredâ€. This tax free status allows HAFZ to be developed to its full asset appreciation thus potentially becoming an asset value to HAFZA in Canada so as to enjoy a market appreciation with its shares when listed. -------------------------------------------------------------------------------- Here you can find a draft copy of the terms of the Decree although the full article of the decree shall be published by the Puntland State in due course!! (Decree DRAFT) PART ONE CITATION AND DEFINITION Article 1. a) This law shall be cited as The Horn of Africa Free Zone Law; b) For the purpose of implementing this law the words and expressions appearing hereunder shall have the meanings assigned to each of them, unless the context otherwise requires: “Agreement†The Agreement signed between the Government World Investments Pty. Ltd. dated 23 October 2004. “Bill of Implementationâ€The Bill ofImplementation of this law. “Board†The Board of Directors of HAFZA. “Chairman of HAFZA†The Chairman of the Board of Directors of HAFZA, its Chief Executive. “Competent Authority†Every natural or corporate body including HAFZA legally authorized to decide upon specific issues that pertain to the application of this Law. “Customs Free Zone†Any place within the State of Puntland set out side HAFZ. “Goods†Any material or natural or agricultural or animal or industrial product. “Government†The Government of the State under the direction of its President. “HAFZ†Any Free Zone in the territory of the State and established as a Free Zone in accordance with the provisions of this law and its plural number are Free Zones and are hereinafter referred to as the Horn of Africa Free Zones (HAFZ). “HAFZA†Is a Corporation established as the independent Authority from the Government to develop, operate and manage HAFZ, styled the “Horn of Africa Free Zone Authorityâ€. “Projects†Any Activity licensed within HAFZ provided for under article ____ of this law. “Republic†Quote Share this post Link to post Share on other sites
General Duke Posted February 11, 2005 Sheikh Muhammed bin Awad, thanks for the info bro. Quote Share this post Link to post Share on other sites
Libaax-Sankataabte Posted February 11, 2005 Shidh, the secret plan is known to everyone now. Change of plans. I like the proposed futuristic look of xaafuun Quote Share this post Link to post Share on other sites
NASSIR Posted February 11, 2005 Thanks for posting, this is good developemntal plan. I found this info on infrastructure renovatiion. ....................................... HAFZA is responsible for developing and operate several free zones throughout Puntland to operate autonomously from the Puntland State and the Federal Republic of Somalia for 99 years with a potential extension for a further 99 years. Regions & Sea Ports Hafun and adjacent suitable mainland areas Eyl Port Gara’ad Port (Rail link to Werdeh, Ethiopia) Bossaso Port Las Qori Port Airports Bossaso Airport Garowe Airport Badhan Airport Galkayo Airport Las Anood Airport HAFZA Quote Share this post Link to post Share on other sites
wind.talker Posted February 11, 2005 Originally posted by CAAMIR: this is good developemntal plan. HAFZA is responsible for developing and operate several free zones throughout Puntland to operate autonomously from the Puntland State and the Federal Republic of Somalia for 99 years with a potential extension for a further 99 years. What the hell is "good" about this? The Republic of Cuba is still reeling from the 99-year contract lease they signed with the U.S. for use of Guantanamo Bay! Same for the Panama Canal. And Hong Kong - until 1997. These so-called development plans are a good start but why the hell do we need foreigners exploiting our land for 99 years? I think the idiotss who signed such an agreement (NO TAXES FOR 99 YEARS!) forgot to look at the long-term effects. But we'll see if this plan bears fruit or if its cheap talk. Quote Share this post Link to post Share on other sites
Alle-ubaahne Posted February 12, 2005 If every tribe sales their part of the Country for some financial reasons, what would the remaining be in the long run. Walaahi its becoming apparent that certain tribes in Somalia don't understand the importance of our country. The likes of C/laahi Yuusuf don't care about the future fate of our sociaty, he simply thinks for the interest of his few renegades, if not for Ethiopia. Too bad, waan ka xumahay runtii. Quote Share this post Link to post Share on other sites
General Duke Posted February 12, 2005 The likes of C/laahi Yuusuf don't care about the future fate of our sociaty, What are you on about dude. What have you done for the people of your country or society? Have you seen Xafuun after the Tsunami? I and others here have doubts about this project being fullfiled but I would love to see a new Xafuun and developments throught Puntland. What other means does our bankrupt nation have? It just sounds too good to be true, but please stop using the same emotive and baseless arguments. You have no right to tell anyone what to do brother. Quote Share this post Link to post Share on other sites
Alle-ubaahne Posted February 12, 2005 ^^ Saaxiib, Tsunami ilaah ayaa keenay, laakiin Gaalka wadanka raba inuu bililiqeysto yaa keenay is weydii? Reer Xaafuun can't decide the fate of that land by their own, even a legitimate Somali Government can't misuse the national treasures. You are probably led by the emotional interest of the tribe who reside in that particular Island, but I am telling you a wide spread believe of all Somalis. We will never let a warlord to sale our country for few dollars, never to happen in our five eyes! Wake up brother, that company will soon face an international condemnations from all Somalis in the daispora. Quote Share this post Link to post Share on other sites
General Duke Posted February 12, 2005 ^^^^^ Spare me the hot air brother. You speak for only yourself and no "Somalis". The people of the state of Puntland need this type of project that will improve their livelyhood. As for the tribe thing, we are clans not tribes and these types of projects would help all the clans of Somalia. And please stop refereing to the Somali President as a warlord you are getting silly now. Quote Share this post Link to post Share on other sites
Suldaanka Posted February 12, 2005 African Sky Sxb, I you are not telling me you actually believe this? Of all things, an unknown IP voilating bogus website is gonna turn that part of africa into little Dubai? lol Good luck sxb Quote Share this post Link to post Share on other sites
General Duke Posted February 12, 2005 africa into little Dubai? lol No no Suldan its a very big Dubai. Quote Share this post Link to post Share on other sites
