Djibouti President Meets with Saudi Chambers Federation Chairman

Djibouti, President Ismail Omar Guelleh of Djibouti yesterday received here Federation of Saudi Chambers Chairman Hassan Al-Huwaizi and accompanying Saudi investors, following the conclusion of a Saudi business delegation visit organized by the federation. President Guelleh expressed Djibouti's commitment to providing all necessary support and resources to attract Saudi investors. He highlighted Djibouti's strategic location on the Red Sea as a unique gateway for Saudi exports to reach the African continent. Guelleh said the Saudi logistics zone in Djibouti marks a new chapter in the economic relations between the two countries; it is a powerful platform to attract further investment to Djibouti. He pledged support for Saudi Vision 2030 goals aiming to increase imports/exports and expand export markets, leveraging the geographical proximity of Djibouti's port to the port of Jazan. Guelleh pointed to Djibouti's economic and political stability, along with its well-developed infrastructure, and highlighted the Djiboutian currency's stable exchange rate against the dollar for the past 60 years, which is proof of the strength and resilience of the Djiboutian economy. Al-Huwaizi said that the Saudi logistics zone in Djibouti is a significant development, a continuation of the federation's successful efforts to pool Saudi investors' endeavor to expand businesses. He also discussed the role of the Saudi-Djibouti Business Council established in 2017 to further propel economic ties between the two nations. Source: Saudi Press Agency