The Djibouti Ports and Free Zone Authority has extended an invitation to South African businesses to join a trade delegation to visit the country which is currently on a drive to attract foreign direct investment.
Aboubakar Omar Hadi, chairman of of the The Djibouti Ports and Free Zone Authority, speaking at the African Ports and Rail Evolution Forum in Durban last week, said the country was “open for business” and ready to show investors the benefits of its new free trade zone – the biggest in Africa.
“Djibouti’s biggest asset is its location, sitting on the second biggest maritime lane in the world with 90 ships passing by per day,” Hadi said.
The country’ transport department had invested almost $15 billion in its transport infrastructure, which included road and rail and the development of three brand new ports, bringing its total number of ports to six, he added. Djibouti’s $3.5-billion free trade zone launched earlier this year, which connects to the country’ major ports, aims to create local jobs, diversify the economy and attract foreign investment by offering tax incentives and logistical support.
The initial pilot phase of the project covers 240 hectares of the planned 4800-hectare free trade zone. It is expected to be completed in 2028.
