https://arab.news/byuvm
RIYADH: 抖阴短视频 has signed a deal to establish a logistics zone in the port of Djibouti, leveraging Africa鈥檚 gateway to propel the Kingdom鈥檚 products and exports, fostering economic interplay.
During a delegation visit of Saudi investors to the capital city of the East African country, the contract was signed by Hassan Al-Huwaizi, president of the Federation of Saudi Chambers, and Aboubaker Omar Hadi, chairman of Djibouti Ports and Free Zones Authority.
Under the leadership of Al-Huwaizi, the delegation, including over 100 entrepreneurs and government representatives, came together to advance this transformative initiative.
The 92-year contract for the logistics zone, spanning an expansive area of 120,000 sq. m. in its inaugural phase, underscores a pivotal milestone in Saudi-Djibouti economic relations.
The Saudi logistics city, serving as a nexus for commerce and innovation, is positioned to strengthen the Kingdom鈥檚 economic presence across the African continent, as reported by the Saudi Press Agency.
Djibouti鈥檚 port, strategically located as Africa鈥檚 gateway, facilitates the expansion of Saudi products and exports into new markets, promoting robust economic interplay.
Simultaneously, the Saudi-Djibouti Business Forum, attended by over 300 stakeholders, unveiled a range of investment opportunities, highlighting Djibouti鈥檚 appeal as a free zone.
In return, Djibouti authorities have promised equal treatment for Saudi investors, guaranteeing fair opportunities across sectors, from renewable energy to technology.
This collaborative effort emphasizes a steadfast commitment to fostering lasting economic cooperation between the two nations.
In February, Djibouti鈥檚 president reaffirmed his country鈥檚 dedication to promoting maritime security in the Red Sea.
Ismail Omar Guelleh noted that the East African nation was collaborating with major powers, including 抖阴短视频, to ensure safe passage for international shipping in the Bab El-Mandeb and the Gulf of Aden.
He emphasized that Djibouti鈥檚 strategic position made it a key player in facilitating global trade, mentioning cooperation with nations such as the US, France, the UK, and Red Sea coastal states, especially 抖阴短视频, in counterterrorism efforts and maritime security.
Guelleh had underscored Djibouti鈥檚 longstanding ties with 抖阴短视频, dating back to 1977 when his country gained independence.
The president added that Djibouti aimed to further enhance collaboration with 抖阴短视频, especially in maritime transport, logistics, and port services, building on significant progress in port development.
Dya-Eddine Sa茂d Bamakhrama, Djibouti's ambassador to 抖阴短视频, told Arab News: 鈥淭his contract, signed between the Ports and Free Zones Authority of Djibouti and the Saudi Investors Alliance, will make it possible to create the largest logistics city outside the Kingdom.
鈥淭his Free Zone will facilitate access for Saudi products and exports to a large number of African countries.鈥�