Chinese firm to invest in Djibouti

March 12, 2012

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Djibouti's Minister of Finance and the head of a Chinese conglomerate have signed a foreign-investment agreement that will bring thousands of new jobs to Djibouti, Djibouti's La Nation reported on Sunday (March 11th).

The Chinese manufacturing firm Huajian agreed on Friday to invest in factories and training for the new staff. Huajian CEO Zhang Huaron praised Djibouti's business-friendly practices at the signing ceremony with Finance Minister Ilyas Moussan Dawaleh, the official newspaper reported.

Huajian has agreed to open a shoe-manufacturing plant and other factories for Chinese materials, as well as a logistics firm and an office to promote Chinese goods in Djibouti. The company will also hold periodic training sessions for its Djiboutian staff in Huajian's factories in China.

Huaron underscored his company's desire to contribute to the Djiboutian government's efforts to promote Djibouti's strengths and attract investors from Asia, the newspaper reported.

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