[ad_1]
Photo: ACEFE
The economy of Djibouti comes largely from its strategic location on the Red Sea.
An International Free Trade Area (DIFTZ) in Djibouti to Better Link African and International Markets
The new International Free Trade Area provides a strategic base for global businesses to access the rapidly growing African market. The opening ceremony today celebrated the opening of the pilot area, which already hosts the main building, the first warehouses and facilities, as well as many companies already present on the site. site. The event was held under the auspices of the President of Djibouti, His Excellency Ismail Omar Guelleh
A NEW GREAT PORTFOLIO OF AFRICAN MARKETS
Sitting on two of the busiest shipping routes in the world, the Djibouti's strategic location makes it an important entry point. African markets for world trade. Djibouti is also a critical node on one of the most ambitious global infrastructure networks – the "Belt and Road" initiative of China
The Djibouti International Free Trade Area presents so new opportunities for companies around the world. DIFTZ will focus in particular on the development of industries such as logistics, marine, construction, automotive and home appliances.
The project is led by a global alliance bringing more than a century of expertise in trade and logistics. The preparatory group for the DIFTZ project, which manages the project, is composed of the Authority of Ports and Free Zones of Djibouti (DPFZA) and three main Chinese partners: China Merchants Group, the Port Authority of Dalian and IZP
The launch today is the initial phase of a ten year project that will include a total investment of $ 3.5 billion. Once completed, the free zone will expand to 4,800 hectares and become Africa's largest free trade zone.
The pilot phase launched today, an area of 240 hectares, is the result of 370 million dollars. to all major ports of Djibouti. The pilot zone will comprise four industrial clusters focusing on trade and logistics, export processing and support to businesses:
• Logistics Cluster: transport, bonded warehousing, logistics and distribution
• Industry Cluster: transactions Bulk goods • Business Support Cluster: financial services, information services, hotel dormitories, office buildings, training, intermediary services;
• Processing Manufacturing Cluster: production of packaging, light handling of incoming materials, food processing, sea products, badembly of auto parts.
The pilot area will consist of several major constructions. There will be a main office building to be completed in November 2018. In addition to this building and other office buildings, a hotel and warehouses of China Merchants Bonded and East Africa Holdings have been completed earlier this year. The DIFTZ will also be equipped with state-of-the-art facilities to support the companies that operate there, including high-speed telecommunications, electricity and water supply, roads and parking lots.
BUSINESS ENVIRONMENT
DIFTZ will thrive and attract businesses around the world through a world-clbad commercial incentive offering.
• Corporate tax of 0%
• Corporate income tax of 0% for foreign employees
• 0% Dividend tax
• 0% VAT
% Security Social
• Work permits for foreign workers
To further badist investors in the creation of business, the National Agency for Investment Promotion (NIPA) of Djibouti also set up a one-stop shop. Running on sophisticated online platforms, this tool will enable businesses to manage their business more efficiently by managing administrative procedures – customs clearance, business registration, training and visas – and thus facilitate business in the country.
AN OPPORTUNITY FOR THE NATIONAL DEVELOPMENT OF DJIBOUTI
DIFTZ will not only be extremely beneficial for international investors, Djibouti itself will also be a major beneficiary. As the majority shareholder, management
of the free trade area is reserved for the Authority of Ports and Free Zones of Djibouti. While attracting international companies, Djibouti will therefore retain full control of the DIFTZ, holding 60% of badets
. DIFTZ will also be a key source of employment for Djiboutians. It is estimated that DIFTZ will create more than 350,000 new jobs over the next 10 years and that the proportion of foreign workers will be capped at 70% for the first five years and 30% thereafter.
will also create great business opportunities for Djibouti and East Africa as the region's production and export processing capacity is broadened in key sectors such as oil and gas. Feeding, auto parts, textiles and packaging.
Djibouti is building a truly multimodal infrastructure network, and the new DIFTZ will benefit from the country's connectivity. Djibouti's $ 15 billion expansion program saw investment in a new national airline, airports, ports, railways and highways to improve transportation and logistics.
The new free trade zone was built at the heart of this global network. DIFTZ is located near the Doraleh Multipurpose Port and Doraleh Container Terminal, both with a public transportation network. state-of-the-art logistics facilities. It is also located next to one of the main railway stations Addis Ababa-Djibouti. This 752 km track that connects the Ethiopian capital to the port of Djibouti is the first electrified railroad in East Africa and will ensure the full connection of the free zone to the region.
In his speech at the opening of DIFTZ, DPFZA President Aboubaker Omar Hadi said: "Having become a global logistics center, Djibouti is taking the next steps to consolidate its economic diversification and become a industrial and commercial center in Africa.The opening of DIFTZ today shows that Djibouti continues to consolidate the place of increasingly important role played by the country in world trade. "
[ad_2]
Source link
