Distinguished Guests
Ladies and Gentlemen
We are hertoday to lay the foundation stone of Djibouti Steel Factory.
Allow me,first, to congratulate, in the name of the Government and the people of Djibouti, Al Nasser Industrial Enterprises for its desire to establish a steel-manufacturing factory. This project will certainly be of an important significance because it will constitute a landmark among our economic infrastructures.
The realization of such industrial project will fill the growing demand for construction materials in the country. A demand, which is driven by a high trend of Foreign Direct investment as well as an increasing local need.
The industrial promotion of local products including construction materials that the country strongly needs is an asset to be developed. This valorization of useful resources will allow us to establish a significant industrial fabric that meets the needs of the national market in BTP.
Ladies and Gentlemen
The diversification of our economy has brought us to shift our thinking and embrace new sectors. Industrial development is one of them. By facilitating and enabling the implementation of local industrial clusters, the government is committed to encourage all investments that will create a sustained and inclusive economic growth.
For these reasons, we have been working firmly to remove all bottlenecks that used to hamper our production-capacity sector. Energy used to be a barrier to industrial and manufacturing growth, but thanks to some huge investments, especially in green energy infrastructures, we’re able today to offer affordable and secured electricity for industrial expansion.
Supporting legislative and incentive framework have also been offered to the productive activities.
Among the advantages Djibouti steel would have, once operational, is that it will reduce the consumer price because it will not be imported anymore, but produced locally, “Made in Djibouti”.
I’d like to insist here on the creation of significant employment in this industry, for some of them of highly qualified. I’m sure, this will also add an important layer of industrial expertise to our workforce.
The steel-manufacturing factory that we’re witnessing here today will give a strong impetus to the overall development of Republic of Djibouti. There’s no doubt, the country has a strong industrial potential. The development of transformation industries is an important niche for the expansion of manufacturing factories.
Ladies and Gentlemen,
Honorable promoters
Thanks to your visionary business perspectives, Djibouti’s competitiveness will rise. Not only local market, but also I encourage you to target the regional market. Djibouti offers export opportunities to all COMESA markets. By creating a manufacturing industry in the country that appeals to the regional customer, Djibouti will be able to kick-start its industrial development.
I wish you all the luck.
Thank you.