In a significant move to bolster trade relations, a coalition of Saudi investors has formalized an agreement to establish the Saudi Logistics City within Djibouti’s free zone, adjacent to the bustling Djibouti Port. Encompassing a vast 120,000 square meters in its initial phase, the facility is poised to operate under a 92-year contract. Its conception is not only a testament to the mutually beneficial endeavors but also a strategic step forward in the realm of commerce.
Chaired by the esteemed Hassan Moejeb Al-Hwaizy, the Federation of Saudi Chambers spearheaded the initiative, bringing together more than 100 business magnates and representatives from numerous governmental bodies. Their collective vision is to establish a robust infrastructure that includes a permanent exhibition space, a hub for showcasing Saudi industrial prowess, and a dynamic trade exchange zone complete with assorted amenities and storage solutions.
The Saudi Logistics City is designed to act as a conduit through which Saudi goods can effortlessly penetrate the African market, with Djibouti Port serving as the primary conduit. This port is not only an access point to the African continent but also a critical node of economic and commercial activity internationally.
Amidst their visit, the Saudi delegation hosted the Saudi-Djibouti Business Forum, an event that drew over 300 participants including ministers, officials, and entrepreneurs. This forum placed a spotlight on the investment prospects within Djibouti’s free zone, and discussed the incentives and support mechanisms available to investors.
Djibouti’s authorities have pledged to extend the same level of support and advantages to Saudi investors as they would to local entities. They emphasized the plethora of opportunities awaiting in sectors such as renewable energy, tourism, agriculture, and technology, thereby encouraging a fertile ground for economic partnership.