The Djibouti Free Trade Zone (FTZ)
covering 48.2 square kilometres and with four industry clusters once
completed, will pave the way for the rise of the Horn of Africa nation
as a global trade hub.
covering 48.2 square kilometres and with four industry clusters once
completed, will pave the way for the rise of the Horn of Africa nation
as a global trade hub.
The FTZ, the largest of its kind in
Africa, is focusing on trade and logistics, export processing, business
and finance as well as manufacturing and duty-free retail.
Africa, is focusing on trade and logistics, export processing, business
and finance as well as manufacturing and duty-free retail.
The East African state broke ground on the FTZ in January 2017 and was officially inaugurated it in July.
The facilities including warehouses, gates and roads totalling 70,000 square meters had been finished as of the first half.
The offices and hotels are estimated to be completed in the second half, according to a report over the weekend by news.cctv.com, the site of China Central Television.
The view of a modern FTZ being built
contrasts sharply with the site a year earlier, when it was a barren
waste filled with volcanic rocks, said the report.
contrasts sharply with the site a year earlier, when it was a barren
waste filled with volcanic rocks, said the report.
Djibouti is getting a makeover with the free trade zone which isn’t just one of geographic terminology.
At the inauguration ceremony in July,
Djibouti President Ismail Omar Guelleh said: “It is a zone of hope for
thousands of young jobseekers and offering a glimpse into the zone’s
economic ambitions.’’
Djibouti President Ismail Omar Guelleh said: “It is a zone of hope for
thousands of young jobseekers and offering a glimpse into the zone’s
economic ambitions.’’
The changes being made to the tiny, yet
high-profile African state by the new FTZ, part of the Belt and Road
(B&R) initiative, speak compellingly for the China-proposed
initiative, which is now in its fifth year.
high-profile African state by the new FTZ, part of the Belt and Road
(B&R) initiative, speak compellingly for the China-proposed
initiative, which is now in its fifth year.
The initiative is a silver lining in the clouds of trade xenophobia that shadow the global economy.
The world has changed for the better
thanks to tangible progress China has made over the past five years in
partnership with many B&R economies.
thanks to tangible progress China has made over the past five years in
partnership with many B&R economies.
That’s indisputably a wake-up call for
some Western media outlets, which have been wrongly obsessed with such
issues as the debt implications of the sprawling initiative for
economies along the route.
some Western media outlets, which have been wrongly obsessed with such
issues as the debt implications of the sprawling initiative for
economies along the route.
There’s no denying that the B&R
initiative is open to constructive criticism, but with this single
project providing tangible proof of the true benefits of the B&R
initiative, which involves many projects in many countries and
regions, it would be wiser for the “professional” faultfinders to stop
judging others and make the right turn.
initiative is open to constructive criticism, but with this single
project providing tangible proof of the true benefits of the B&R
initiative, which involves many projects in many countries and
regions, it would be wiser for the “professional” faultfinders to stop
judging others and make the right turn.
