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Djibouti -Business: Visit of a delegation of the Chinese Development Bank

20/05/2019
00:00

The President of the Authority of Ports and Free Zones of Djibouti (APZFD) Aboubaker Omar Hadi, received yesterday morning, in the meeting room of the former free zone, located along the road to Venice, a delegation of the China Development Bank led by the representative of the local China Merchant Group office, Leo Li. This meeting focused on the validation of the financing of the first phase of 240 hectares of the international free zone of Djibouti (DIFTZ), inaugurated by the President of the Republic, in July 2018. This first phase, inaugurated by the President of the Republic in July 2018, includes an area of ​​240 hectares, and will extend within 10 years to 4,800 hectares for a total construction cost of $ 3.5 billion.  (Source  ADI)

The validation of the financing of this first phase was endorsed yesterday morning by the president of the APZFD and the representatives of the CBD and China Merchant Group.

Mr. Aboubaker Omar Hadi, who spoke on this occasion, told us that this signature represents the loans contracted from the China Development Bank, for the financing of the DIFTZ at PK 23.

"It has been 10 months since this area was inaugurated by the President of the Republic. We have paid part of the work and we are going to pay the companies that have implemented this major project, "he said.

Remember that the DIFTZ, which will last 10 years, is expected to cover 4,800 hectares and will generate over 350 thousand jobs according to the forecasts of its promoters.

Indeed, in addition to its status as the largest free zone on the African continent, Djibouti International Free Trade Zone (DIFTZ) has all the characteristics of a modern free zone where the spacious hangars are combined with premises devoted to the practice of activities manufacturing, including manufacturing of packaging, tools and raw material processing.

The tax exemption and its logistical support of quality, it will be also an undeniable source of attraction of investors within it.

At the end of this meeting the president of the APZFD offered traditional gifts to his Chinese hosts.

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