The government hopes
that donor countries will extend the estimated $13.7 million needed for
the ICT initiative outlined above. There is potential for successful
investments in port services and telecom. Aid projects and
privatizations are two other portals for foreign investment in Djibouti.
The state is planning to off-load a 49 percent share of Djibouti
Most foreign investment in Djibouti today arrives by way of its port, with Ethiopia and Somalia being the largest participants. Djibouti is a member of the Common Market of Eastern and Southern Africa (COMESA) which removed all internal tariffs and barriers among member states in 2000. COMESA plans to introduce a common external tariff structure to simplify procedures and manage all third party trade.
Djibouti is seeking private sector foreign investment in a variety of export-oriented services, specifically those related to the port. Investment in the untapped fishing sector, as well as the food sector is also encouraged. Djibouti officials also hope to create a tourism industry. The government is channeling donor money to many infrastructure developments where assistance is needed - telecommunications, rail, airport services, and road construction, and water.
US companies will see competition for their exports from some regional countries, including Ethiopia and Saudi Arabia, although France remains the largest exporter to Djibouti. The majority of the exports from the country went to Somalia and Ethiopia, with Yemen, the UAE, and the Netherlands garnering smaller shares.