Djbouti
Capital city: Djibouti
Currency: Djiboutian franc (DJF)
Population: 942,333
Language: French and Arabic
GDP: USD$3.6 billion
GDP per capita: USD$3,820
Djibouti is an African country bordered by Eritrea, Ethiopia and Somalia. Originally part of the colony of the French Somaliland,
Djibouti achieved independence in 1977 (and the Republic of Djibouti was born).
Djibouti’s economy largely revolves around the country’s free trade policies and strategic location as a Red Sea transit point.
The container terminal at the Port of Djibouti handles the bulk of the nation’s trade with 70% of the seaport’s activity consisting of imports and exports from neighbouring Ethiopia.
Since 1949 Djibouti has been operating a free-port – ‘Djibouti Free-zone’. Apart from other incentives, foreign companies domiciled in the free-port can receive a five to ten-year tax exemption.
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2