Country Feature – Republic of Djibouti
COUNTRY FEATURE
REPUBLIC OF DJIBOUTI
(DJIBOUTI)
DJIBOUTI BUSINESS FORUM 2023
by Export-Import Bank of Malaysia Berhad
Date: 28 November 2023 – 3 December 2023
Country: Djibouti
Background:
EXIM Bank Malaysia, in collaboration with WAAFI Bank, Djibouti National Investment Promotion Agency (NIPA), and supported by Malaysia External Trade Development Corporation (MATRADE), held the “Malaysia Global Connect: Malaysia – Djibouti Business Forum” on 29 November 2023 in Djibouti, bringing together over 28 delegates to foster economic ties and strategic collaborations between Malaysia and Djibouti. EXIM Bank was represented by Cik Nurbayu Kasim Chang, acting President and Chief Executive Officer (previously Chief Business Officer), Dr Liza Mydin, Chief Strategy Officer and Puan Azmin Hamzah, Head of Corporate Communication and International Relations.
Among the key highlights from the event are:
- 1. Engaging discussions on economic policies, trade facilitation, and investment incentives.
- 2. Closed-door dialogue with Djiboutian Ministers addressing Malaysian delegates’ queries.
- 3. Breakout sessions focusing on Constructions, Health, Power, and Education sectors
EXIM Bank is committed to fostering international trade and investment. The forum signifies the Bank’s dedication to creating platforms for dialogue and collaboration between businesses, government entities and investors.
Key Highlights:
Djibouti Business Forum 2023 witnessed several noteworthy highlights, including:
Networking Opportunities: Delegates had the chance to network with government representatives, business leaders and local entrepreneurs, fostering potential collaborations and partnerships.
Interactive Sessions: The event featured interactive sessions, allowing participants to engage in Q&A sessions and had one-to-one consultations with local companies.
Success Stories: The success story shared by Golden Africa when investing in Djibouti served as guide for the delegates.
Government Assistance: Delegates gained a deeper understanding of the Djibouti market and the support available from government agencies and financial institutions.
Conclusion:
Djibouti Business Forum 2023 proved to be a pivotal event in opening business opportunities for Malaysian companies into the East Africa region, as the information provided by the Djibouti Ministries and agencies’ input on the way forward, as well as Djibouti’s government policies on foreign direct investment, proved to be insightful.
The Malaysian delegates need to continually communicate and follow-up with their respective potential partners, ministries and government agencies to formalise proposals and the transactions to be made.
EXIM Bank played an important role in bridging the financing gaps for Malaysian companies that may seek financing into Djibouti. The financing request may come from Djibouti Government or its agencies. Hence, delegates have the first mover advantage to undertake potential projects or contracts in Djibouti.
Djibouti serves as a platform for Malaysian companies penetrating the East Africa market that has a bigger population of 220 million. The Government looks highly on Malaysia to undertake FDI into the country.
EXIM Bank should undertake the same approach in connecting Malaysian companies into other non-traditional markets in 2024, such as the Central Asia or West Africa regions by working with MITI and MATRADE. This is part of the Malaysia Global Connect Programme’s objective.
Media Coverage on Malaysia and Djibouti Business Forum
Additional Links:
- •https://www.exim.com.my/resource-centre/exim-bank-fosters-economic-ties-with-djibouti-after-successful-business-forum/
- •https://www.exim.com.my/resource-centre/exim-bank-leads-efforts-to-foster-economic-ties-between-malaysia-and-djibouti/
MASSA congratulates EXIM Bank, MASSA’s member and Executive Committee member for the successful Malaysia Global Connect: Malaysia – Djibouti Business Forum on 29 November 2023, and extends its appreciation to EXIM Bank for consenting to share with MASSA members & readers, EXIM Bank’s report on the Forum.
Prior to the Forum, EXIM Bank had organised a Briefing in the lead-up to the Forum at EXIM Bank’s premises wherein MASSA and its members had participated. MASSA’s report on the Briefing can be read in the December 2023 issue of the MASSA e-Newsletter. At the Briefing, information and data on Djibouti was shared by the presenters, excerpts from which are enclosed below:
BRIEFING ON MALAYSIA-DJIBOUTI BUSINESS FORUM 2023
We record our appreciation to Waafi Bank and the National Investment Promotion Agency (NIPA) for the above information.