As hydrocarbons forms the backbone of Kuwait’s economy, the resurgence in global commodity markets bodes well for the future and has led to a renewed sense of optimism. The recovering market is also supporting the government’s diversification efforts under the auspices of the Kuwait National Development Plan, or New Kuwait.
Djibouti’s GDP growth has exceeded 5% in recent years, rising to an estimated 6.8% in 2017, and projected to reach 6.9% in 2018 and 2019. This is driven by continued investment in infrastructure, especially ports, in order to facilitate the transit of goods to and from Ethiopia. The government’s long-term goal is to establish Djibouti as an...
Looking at the multitude of reforms under way to transform the business environment and the arrival of investments, particularly for ports and transport infrastructure, it is clear that Djibouti is experiencing an economic transition. This transformation is part of a desire to positively and quickly impact growth, a process that is already...
In conjunction with HLB Djibouti, this chapter explores the taxation system and Djibouti’s efforts to build an investor-friendly environment. It also contains a viewpoint with Ramiss Houmed, Managing Director and Owner, HLB Djibouti.
Located at a juncture between Africa, the Middle East and Asia, Djibouti has easy access to international trade routes via the Gulf of Aden and the Red Sea, and borders fast-growing yet landlocked Ethiopia, making it an ideal continental hub. New ports, railway links and road improvement projects are enhancing economic efficiencies and providing a solid platform to bolster expansion in sectors.
In mid-June 2018 the cabinet secretary of the National Treasury unveiled a comprehensive raft of tax administration measures tailored towards financing the government’s KSh3trn ($29.4bn) budget for FY 2018/19. Some of the measures were a reiteration of proposals envisaged in the Income Tax Bill, 2018, the Tax Laws (Amendment) Bill of that same...
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