Djibouti (SD) – Wealthy Djiboutian citizens who have lived abroad for a long time are now returning home and investing heavily in the country’s business.
Yassin Awleed Farah, who has lived in Canada for a long time, has launched a massive housing project in Lagaara, 4 km from Djibouti’s capital, where he has built about 300 houses.
The Djiboutian government has provided land for the ongoing project to encourage investment, and the first phase of the project, which will provide housing to the returning diaspora and the local community is nearing completion.
Yassin Awleed told the state media that the project was inspired by seeing the diaspora from Djibouti and Somalia building or buying houses in Europe, Canada and East Africa and thought it would be better for them to invest in their country.
The returning diaspora has also invested in agriculture, fisheries and tourism, which has increased job creation and development in Djibouti.
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