Djibouti, a small country located in the horn of Africa, is known for its strategic location and proximity to important trade routes. As a result, the country has made significant efforts to attract foreign investment in recent years. One of the key institutions responsible for promoting investment in Djibouti is the Djibouti investment promotion agency (API).
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Description of the organization
The Djibouti investment promotion agency (API) is a government agency established in 2002 to promote investment and facilitate business activities in the country. The agency operates under the ministry of economy and finance and has a mission to attract foreign direct investment (FDI) by providing information, guidance, and support to potential investors.
Purpose of the organization
The establishment of API was a response to the government’s efforts to diversify the economy and reduce the country’s dependence on traditional sectors such as port services and transportation. The agency was created to promote Djibouti’s potential in other areas, such as tourism, agriculture, and manufacturing.
Cooperation with businesses
API works closely with both local and foreign businesses to promote investment in the country. It provides information and support to businesses on investment opportunities and incentives. It facilitates access to financing and other resources for businesses. It provides training and technical assistance to businesses on regulatory compliance. API also helps investors identify potential partners and suppliers in the nation.
Services offered
API offers a range of services to businesses looking to invest in Djibouti, including:
Investment promotion
API’s core function is investment promotion. The agency actively promotes investment in Djibouti through various means, including trade fairs, conferences, and promotional materials. API works closely with the government and private sector to identify potential investment opportunities and promote the country as an attractive destination for foreign investment. This service is essential in raising awareness about the investment potential in Djibouti and attracting the attention of potential investors.
Market research
Market research is an important service offered by the Djibouti investment promotion agency (API) to potential investors. The agency provides information on market opportunities and trends in the country, helping investors make informed decisions about where to invest their resources. Market research may cover a range of areas, such as market size, demand, competition, consumer behavior, and pricing. This information is critical in understanding the potential for success in a particular sector or product, and it helps investors identify the best business opportunities in the country.
Legal and regulatory guidance
API also offers legal and regulatory guidance to investors looking to establish a business in Djibouti. This service is particularly important for foreign investors, who may be unfamiliar with the legal and regulatory framework in the country. The agency provides information on the laws and regulations that govern business operations in Djibouti, including corporate law, labor law, tax law, and intellectual property law. API also helps investors navigate the legal requirements for establishing a business, such as registering a company, obtaining a tax id, and obtaining the necessary licenses and permits.
Facilitation of permits and licenses
Obtaining permits and licenses is a critical step in establishing a business in Djibouti. API helps investors obtain the necessary permits and licenses to operate in the country. This service includes identifying the permits and licenses required for a particular business, assisting with the application process, and following up with the relevant authorities. This is to ensure that the permits and licenses are issued on time. API’s assistance in this process helps investors avoid delays and ensures that their business operations comply with local regulations.
Business matchmaking
API helps investors identify potential partners and suppliers in Djibouti. The agency has a database of local businesses and can match investors with companies that meet their specific needs. This service is particularly useful for foreign investors who may not have an established network in the nation. API’s business matchmaking service can help investors identify potential suppliers, distributors, and service providers, facilitating their entry into the local market.
Investment incentives
Djibouti offers a range of investment incentives to attract foreign investment to the country. API provides information on these incentives, which may include tax exemptions, customs duty exemptions, and other financial incentives. The agency also assists investors in accessing these incentives, providing guidance on the eligibility criteria and the application process.
Businesses cooperating with API
All businesses in Djibouti cooperate with API. The organization has worked with a range of businesses from different sectors, including transportation, telecommunications, energy, and hospitality. Some of the notable investments in Djibouti that API has facilitated include the Doraleh multipurpose port, the east African submarine cable system, and the Djibouti international free trade zone.
