Friday, 1 April 2016

Oxford Business Group launches first report on country’s economy

A landmark report just produced by the global publishing, research and consultancy firm Oxford Business Group (OBG) highlights Djibouti’s plans to foster stronger trade ties with partners across the continent, including Nigeria, as a means of encouraging economic integration and enhanced connectivity between eastern and western Africa.

The Report: Djibouti 2016 looks in detail at the country’s strategy for growth, which includes carving a niche as a regional logistical platform. Port expansion and developing an air cargo business that could serve Nigeria and other African countries are among the projects considered.
The Report Djibouti launch conference - President of Djibouti welcomes first copy of the report.
The publication also explores Djibouti’s drive to leverage its strategically advantageous position on one of the world’ busiest shipping lanes by boosting trading activity with both landlocked East-African countries and other international players farther afield.

The Report: Djibouti 2016 charts the country’s impressive growth story, which has been fuelled by rising FDI on the back of an improved investment climate. It looks, in particular, at the young nation’s major infrastructure drive, which includes $14bn worth of construction and development across the transport sector.

OBG’s first publication on Djibouti represents an expansion for the firm in its regional operations. It was launched on March at the Djibouti Palace Kempinski Hotel in the presence of leading representatives, VIP guests and members of the media. Keynote speakers included the President of the Republic of Djibouti Ismail Omar Guelleh, the Minister of Economy and Finance Ilyas Moussa Dawaleh and the Governor of the Central Bank of Djibouti Ahmed Ali Osman.

The president and the minister of economy and finance are among the leading representatives interviewed in The Report: Djibouti 2016. Other key personalities who give their views on the country’s economic development include the Minister of Equipment and Transport Moussa Ahmed Hassan, the US Secretary of State John Kerry and the Executive Secretary, UN Economic Commission for Africa Carlos Lopes. OBG’s publication also contains a detailed, sector-by-sector guide for investors.

Andrew Jeffreys, OBG’s CEO and Editor-in-Chief, said research undertaken by the Group’s team showed that rising levels of foreign investment were producing a positive impact across the economy.

“Djibouti’s macroeconomic stability and enhanced business environment have helped to make it an attractive destination for investors, with positive ripple effects evident in key sectors, such as construction,” he said. “Our first-time report on Djibouti indicates an economy in the midst of countrywide infrastructural activity which is also making strides in developing ties with neighbours and global economic powers for future prosperity.”

OBG’s Managing Editor for Africa Robert Tashima, who spoke at the launch of the report, added that while several economies were looking to establish themselves as a gateway to fast-growing African markets, Djibouti had more reasons than most to lay claim to the label.

“The country benefits from a number of competitive advantages, including well-developed infrastructure, efficient clearance procedures and a fortuitous location,” he said. “While there are certainly challenges, our report on Djibouti reaffirms that the country's long-term outlook is broadly encouraging.”

The Report: Djibouti 2016 marks the culmination of more than five months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments. Oxford Business Group’s report has been produced with Djibouti’s Ministry of Economy and Finance. Contributions have also been made by the Chamber of Commerce of Djibouti, the Investment Promotion Agency and the Central Bank of Djibouti. The publication is available in print and online.

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