Djibouti, the country commonly known as the Horn of Africa, has been aiming since 2017 to take advantage of the assets nature has given it. On July 5, the country inaugurated what will eventually become the largest free zone in Africa.
The free zone is installed on an area of 240 hectares, which should extend to 4,800 hectares within 10 years, the cost of the project amounts to nearly 3 billion euros.
Connected to several ports, the AFP free zone aims to diversify the country’s economy, create jobs and attract investment, by allowing foreign companies to be exempt from taxes and to benefit from logistical support. quality.
It also provides a foundation for foreign companies to set up processing industries, to add value to products rather than simply importing / exporting raw materials.
“The volume of products arriving in East Africa continues to grow. Whenever a product (leaves) the continent without having been transformed, it is a missed opportunity for Africa, “said Aboubaker Omar Hadi, President of the Authority of Ports and Free Zones of Djibouti (DPFZA) , reports the same source.
Djibouti President Ismail Omar Guelleh was accompanied by his peers from Rwanda, Somalia and Sudan at the inauguration of the free zone. A project highly praised by the entire political and economic class. Somali President Mohamed Abdullahi Mohamed “Farmajo” spoke of a “victory for East Africa”.
Located between the Indian Ocean and the Suez Canal, Djibouti also inaugurated in 2017 three new ports and a railway line to take advantage of the advantages of the sea. This free zone only confirms the dream of making Djibouti the commercial platform. of East Africa.