Africa
Chinese investors eye Djibouti market
February 5, 2012 · 15 Comments
HARGEISA — The President of Djibouti Ismail Omar Guelleh on Wednesday received two large Chinese delegations in the space of 48 hours as the country gears up for Chinese enterprises.
Led by Mr. Chi Jianxin, Chief Executive Officer of the China Africa Development (CAD) Fund, the delegates composed of executives of large multinational companies and Chinese senior officials from CAD.
Offering opportunities to explore various sectors in the tiny African nation, the two sides discussed the excellent relationship between China and the African continent and the Republic of Djibouti.
The president said Djibouti was keen on developing tourism sector in the north of the country where scuba diving places are internationally renowned. He added his country offers Chinese investors and contractors great opportunities to explore existing logistic facilities including its renowned port, mineral deposits and geothermal energy.
This large delegation from the Sino-African development is the second of its kind received by Ismail Omar Guelleh in an interval of 48 hours. On Tuesday he welcomed the president of the state-owned Export-Import Bank of China (China Exim Bank) at the presidential palace.
Economists claim Chinese investors in Africa now cover diverse sectors including tourism, mining, finance, animal farming. manufacturing, construction, agriculture, forest, fishery, and many other fields. They further argue the stock of Chinese investment in Africa is worth about US$15 billion as of early 2012.
Somalilandpress
Number one English-Somali website
Sunday, Feb 5, 2012
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Tags: Africa, China, Chinese investors, Development Fund, Djibouti, Exim Bank
Readers Comments (15)
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Djibouti has nothing much to offer these Chinese who are hungry for energy and copper to name few. What Mr. Geele will provide, except thermal energy which Chinese do not need it and cannot be exported. They [Chinese] will eventually make Somaliland their main base in the Horn of Africa, and Mr. Geele is not happy about that.
A tiny country of Djibouti is obsessed to keep the bigger and most prosperous Somalliand in dark due to his selfishness, and the hate he has for our country and its people.
Who knows Somaliland first of all? Somaliland is part Republic of Somalia, international community knows one country called Jamhuriyada Somalia.
I told you earlier this and you will see the Crescent in your door-steps.
looooooooooooooooooool
I am happy for djabouti! Somalilanders arnt haters! We just respond to haters hatin!
Xarago walalo instead of wasting time on a site whos nation and people dont want anything to do with you why dont you go to a puntland site or whatever and do something CONSTRUCTIVE instead of b i tch and moan about a country that has left?
Desperate much?
You are joules about the great nation of republic of Djibouti international recognized country, Somaliland can't be equal the great country of Djibouti because somaliland are region with in Somalia. These who advocating somaliland are one clan that is it and that argument is not going to work. Somalia is one nation and always will be like that inshaallah.
@hussein, who are you to talk about what Djibouti can offer ? as it is obvious in ur words, u r intellectually incapable of commuting on Djibouti economy which is currently driven by the services we provide at port and investment we get from foreigners.
Good news! As our country doesn't have much natural resources, we must ensure we offer the best in the region when it comes to business environment and incentives. Glad to read that they have tourism in mind, I never understood why the sector isn't made a priority when we have so much to offer. The tourism industry if developed could create lot's of jobs and revenue and help us diversify an economy too reliant on ports & logistics. Hope the Chinese set up resorts in the gorgeous northern cost.
As for the geothermal energy I really think it's time for our government to stop looking for investors and finance the project itself. We wouldn't importing electricity from Ethiopia if that sector was developed, we'd be exporting because the potential in Assal and Abbe alone is much greater than our needs.
lets not forget there a lots somaliland refugees in djibouti who work there
Do you mean migrant workers? Like the business men who bring investment and create work.
He means the maintainers of Djibouti.
Djibouti, the hot like hell tiny French military camp can only offer few things, military camps, port and salt. Nothing more.
It has nothing else. The Chinese are not stupid to waste their money on a tiny barren land with French soldiers and we all know China's strong distrust of France…after all it was the French and Jean-Baptiste Louis Gros who tried to destroy China.
The Chinese are just visiting various African states to let them know the dragon is alive and awake. The Chinese have so far invested as reported $15 billion dollars in Africa and not a single dollar has went to Djibouti. This shows China's lack of interest in the tiny hot French military camp.
Trade between China and Africa was worth $160 billion dollars as of 2011…still a silver market for China but a growing economy.
China has more interest in economies such as Ethiopia, Zambia, the two Sudans, Botswana…so if Chinese are ever going to come to Djibouti, they will do so because of Ethiopia and its economy which has some links with Djibouti (port and railway)…nothing more.
Djibouti is the gate way to Ethiopia because of its large port and rail connection.
Seriously people cant you see past your noses.
Somaliland will very soon be recognized inshAllah and Djibouti will be very embarrassed by it. Your neighbour will always be your neighbour and if you don't build a good relationship now then in the future don't forget we won't even need to have any links with barren little land except out of kinship.
day after day, djibouti is moving on and the world see how strong djibouti is what can it bring with its strategical placement,,,, huge benchmarking made in usa show that the most promising countries top 5 djibouti was in it…….