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Zhejiang joins hands with Djibouti for mutual development

Updated: 2016-09-30 (chinadaily.com.cn)

Covering a total area of 23,200 square kilometers, Djibouti is one of the most important hubs on the Horn of Africa. At the confluence of the Red Sea and the Gulf of Aden, the country links to Africa's landlocked areas from a geographically inverse position to the Suez Canal in Egypt. Djibouti plays a vital role in China’s Belt and Road Initiative.

Zhejiang joins hands with Djibouti for mutual development

He Liehui, general representative of the Djibouti National Investment Promotion Agency, signs a strategic cooperative agreement with Zhang Jianxin, president of the Zhejiang Investment and Finance Association on Sept 29. [Photo/huanqiu.com]

He Liehui, general representative of the Djibouti National Investment Promotion Agency, signed a strategic cooperative agreement with Zhang Jianxin, president of the Zhejiang Investment and Finance Association on Sept 29.

The agreement provides opportunities for enterprises in Zhejiang province to invest in Djibouti.

"China and Djibouti enjoys common interests, since the Belt and Road Initiative coincides with Djibouti’s development plan of its Djibouti Port. The leaders of both regions always pay particular attention to the cooperation", said Zhang.

Abdallah Abdillahi Miguil, Djibouti's ambassador to China, attended the signing ceremony and introduced the country’s concept of building itself into "Africa’s Singapore and Africa’s Dubai". He also referenced the country’s advantages in hard currency, preferential policies and geographic location.

Miguil also expressed a warm welcome for the investments of Zhejiang enterprises, hoping the two regions can cooperate with each other on logistics and infrastructure construction, building Djibouti into Africa’s logistics center.

He Liehui is chairman of Touchroad, a multinational group focusing on African development. Touchroad is the first Chinese private enterprise authorized to build a special economic zone in Africa – the Touchroad Djibouti Special Economic Zone (TDSEZ). The zone is to be a fulcrum of China’s Belt and Road Initiative in Africa.

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