Djibouti offers investment opportunities

DOHA • There are lucrative investment opportunities for Qatari businessmen in Djibouti, according to Dr Mohamedi Ali Mohamedi, Ambassador of Djibouti to Qatar.

He told Al Sharq in an interview that his country’s location on the important international sea route and the fact that it has a free zone, a big port capable of docking huge vessels and a conducive trading environment, make it an attractive investment destination for opportunities Qatari businessmen.

In addition, the country is a member of several regional and international organisations and this is another major advantage.

Djibouti is all set to host the Commessa meet in November this year, providing a good opportunity to Qatari businessmen to meet their counterparts from the member countries, exchange views and build relations.

Qatar-Djibouti relationship is warm and brotherly, said the envoy. Djibouti is a small, stable and peace-loving country (with a total area of 22,000 sq kms) although it is located in a region known for wars and violence, he said obliquely referring to Eritrea, Ethiopia and Somalia).

“We are enjoying peace and stability since independence in 1977 and playing an important role in resolving the conflicts in the region,” said the ambassador.

The country is focusing on human resource and infrastructure development to pave the way for laying solid foundations for a stable and growing economy. The accent is on protecting women’s and human rights and democratic values and principles. The current president was elected through a democratic process, he said.

In international relations, Djibouti takes a neutral stand and this has earned the country the respect of the world community.

The state encourages foreign investment in various sectors: tourism, services and others. The advantages of the free zone area at the Djibouti port is that it is owned by a foreign company and it does not charge customs duty or levies taxes on companies.

There are no foreign exchange restrictions and foreign companies are free to repatriate full profits abroad. The UAE has a number of investments in the country including in hotel projects and the management of Djibouti port.

Dr Mohamedi Ali Mohamedi, the ambassador of Djibouti in Doha.