Shabait.com (Asmara)
5 April 2008
Massawa — The first phase of putting in place the necessary infrastructure and facilities in the Free Economic Zone have been finalized and that the process of launching investment ventures has gained momentum, according to Dr. Araya Tsegai, Managing Director of the Eritrean Free Economic Zone Authority.
He indicated that the preliminary tasks to make Massawa and Assab ports a free economic zone and thereby make them the hub of trade exchange and tourism destination have been finalized thanks to the active participation of national construction companies. Dr. Araya further pointed out that the sorting out of companies and investors that would be engaged in the Zone is underway.
Noting that trade activities in the Free Economic Zone is organized in a manner that benefits not only international investors but also domestic ones, the managing director indicated that a number of both domestic and foreign investors are making requests to take part in commercial activities in the Zone. Moreover, Dr. Araya stated that special attention is being given to undertake the set target on the basis of internal resource and Eritrean workforce. He stressed the paramount importance of the Free Economic Zone in reinforcing national economic development.
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