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DJIBOUTI, Djibouti, February 3, 2021, – Djibouti continues with its ambitious growth projects despite the particularly challenging international economic situation stemming from the health crisis. The Republic of Djibouti has entered the year 2021 with determination.
According to the World Bank’s Global Economic Prospects report, Djibouti is expected to experience the highest GDP growth in Africa this year with a projected rate of 7.1%.
This perspective is by no means a coincidence. Without natural wealth, exposed to an arid and demanding environment, Djibouti has been able to take advantage of its main asset: its geostrategic location at the entrance of the Bab-el-Mandeb Strait, at the intersection of the main world maritime routes, used by a mega- boat every 25 minutes.
Consequently, Djibouti has developed a business model based on unique port and logistics solutions.
Since 2013, when the Vision 2035 development plan was implemented, Djibouti has been committed to modernizing its legislation and financial system, improving its human resources and building an efficient infrastructure adapted to the requirements of the international market.
In February 2018, after ending DP World’s unfair concession of the Doraleh Container Terminal (DCT), which undermined the sovereign powers of the state on its own coast, and after multiple attempts at amicable renegotiation, the government it regained control of this essential infrastructure, effectively restoring its sovereignty.
Today, the container terminal has established itself as one of the most efficient in the region.
In addition, together with the installation of Doraleh, Djibouti has developed a first-class ecosystem that includes the commissioning of the new railway line to Addis Ababa (October 2016), the commissioning of the multipurpose port of Doraleh (DMP, 2017 ).
The entry into service of the Djibouti International Free Zone (DIFTZ, July 2018), the mining ports of Ghoubet (June 2017) and Tadjourah (June 2017), extended by the road corridor that connects Balho, a border post with Ethiopia .
In January 2021, Djibouti further consolidated its logistical preeminence in the region with the signing of an agreement between Air Djibouti and Ethiopian Airlines and the Port of Djibouti (DPFZA).
The objective is to offer a global air and sea freight hub from Djibouti airport, transporting goods unloaded from ships in Doraleh by air cargo to the entire African continent.
This port and logistics offering includes an ambitious program for the future in two areas: the Djibouti Damerjog Industrial Development project (DDID) and the redevelopment of the historic port located in the center into an attractive international commercial center, a continuation of the port infrastructure and free trade zone. under the trinity Port, Park and City (PPC).
It will take 15 years for a total investment of $ 3.8 billion to complete the DDID project. The first phase of the project includes the construction of a refinery and a dock for an oil terminal.
The “old port”, which is over a century old, is laying the groundwork for the start of this project after entering into an initial investment agreement of $ 350 million in early 2021 with China Merchants Group, a strategic partner. he plans to invest a total of $ 3 billion.
The redevelopment of the historic port also includes the establishment of a ship repair yard, in partnership with one of the world leaders in the sector, Damen, based in the Netherlands.
A floating dry dock will allow the structure to accommodate very large vessels, thus saving the many shipowners operating in the Indian Ocean and the Red Sea from expensive towing fees.
There are also infrastructure projects planned for the key sectors of energy, water and sustainable development. A French energy company, Engie, will be in charge of designing, building and managing the project of the photovoltaic power plant in the Great Desert of Barra.
Spain’s Siemens Gamesa has been selected to build the Ghoubet wind farm. Finally, the works on the seawater desalination plant that the Eiffage Group is carrying out in association with the Spanish company Tedagua are nearing completion.
In early October 2020, to better coordinate its long-term action, Djibouti equipped itself with the Djibouti Sovereign Fund (DSF), an innovative financial instrument.
The fund will help pool the country’s wealth, act in partnership in international investment projects, support the national private sector, and gradually generate intergenerational savings.
To meet the challenges of its development, Djibouti maintains an active strategic and economic diplomacy. Its historic alliance with sister country Ethiopia has grown stronger over the years.
Djibouti, true to its balanced and outward-oriented policy, has forged strong and lasting ties with friends and partners such as China, the United States, France, Japan, Saudi Arabia and Turkey, among others.
Djibouti thus resolutely inscribes its action in the world arena while preserving its independence and sovereignty.
