Chinese investment in the ports of Djibouti: prospects and objectives (part 1)

Abstract
The article examines the current investment of the People's Republic of China in the port complexes of Djibouti. As part of the analysis, the main goals of certain investments are identified, various data is been collected about the beginning of construction works on particular objects, the level of their readiness, the volume of `total` investments, including investments received on credit from China Export-Import Bank etc. Close attention is `paid` to related projects, such as the Addis Ababa-Djibouti railway. The situation around the nationalization of the Dorale container terminal and legal disputes with its former operator, DP World, and their possible consequences is also highlighted. An attempt is being made to assess the possibility of creating alternative transport corridors that may to reduce the role of Djibouti in the `region`'s trade in the distant future. In addition, the author examines the credit risks linked with the country's external debt on the basis of the IMF report, taking into account the influence of the pandemic and newly-taken loans. Based on the work done, the `author` evaluates the foreign policy and economic goals of the People's Republic of China, and assesses the prospects for further cooperation between PRC and Djibouti within the framework of current and future projects.

Keywords: China, Djibouti, CMPort, DP World, Doraleh Container Terminal (DCT), Djibouti Free Trade Zone, Belt and Road initiative.

For citation: Syachin V.G., Epshteyn V.A. Chinese investment in the ports of Djibouti: prospects and objectives. Modern oriental studies. 2021; 3(4):