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        11/12/2019 | 08:32am EST
        A general view of the city and Christ Church in Windhoek, Namibia

        Dubai's DP World has signed a preliminary agreement with the Nara Namib Free Economic Industrial Zone to develop a dedicated business park in the Namibian port town of Walvis Bay.

        The park will be a 'free economic zone' for industry and logistics and initially cover an area of 50 hectares, according to a statement on Dubai's government media office website on Tuesday.

        The park could eventually be spread across 1,500 hectares, it said.

        A free economic zone is often a dedicated area that has different laws or rules, such as fewer or no taxes, designed to attract investment.

        DP World and Nara Namib aim to reach a final agreement in the second quarter of 2020, the statement said.

        (Reporting by Alexander Cornwell; editing by Jason Neely)

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