Original Story Published by: Godfrey Ivudria, www.busiweek.com
Photo Source: UNEP – EABW News
DJIBOUTI, Djibouti, 3 February 2021, – Djibouti pursues its ambitious growth projects in spite of the particularly challenging international economic situation arising 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 strongest GDP growth in Africa this year with a projected rate of 7.1%.
This outlook is by no means coincidental. Lacking natural wealth, exposed to a demanding and arid environment, Djibouti has been able to build on its main asset: its geostrategic location at the entrance to the Bab-el-Mandeb Strait, at the intersection of major global shipping routes, used by a mega-ship every 25 minutes.
Accordingly, 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, upgrading its human resources and building efficient infrastructure geared 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 state’s sovereign powers on its own coastline, and after multiple attempts at amicable renegotiation, the government took back 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.
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