Thursday, June 16, 2016

New investment in Djibouti under Belt and Road initiative

(Wan Yanlin - Shanghai Daily) - China Merchants Group and Port of Dalian Group will build a large development zone in the Republic of Djibouti, a port country in eastern Africa, as part of the efforts to accelerate the 21st Century Maritime Silk Road initiative.

The development zone will incorporate logistics parks, export processing parks, ports and central business districts, supporting Chinese firms in their “going global” attempts and facilitating local businesses as well, according to a forum on investment in Djibouti.

Hu Jianhua, general manger of China Merchants Group, said during the forum that Djibouti is strategic for his firm, as well as others, in expanding into Africa, because the country has good geographical location, supportive government and sound social security, while the country is ambitious to become a regional shipping center.