Somaliland is located along the Gulf of Aden, near the entrance to the Bab al-Mandeb, a major sea-lane through which almost one-third of the world’s shipping passes. Its location has helped the government attract new trade and development deals. In late 2016, the DP World announced that it would invest nearly US$450 million to manage and upgrade the Port of Berbera and to develop a corridor running from there to the Ethiopian border.