Massawa Free Zone was established in september 2006. Trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered in hopes of attracting new business and foreign investments. If all goes according to plan, businesses operating within the Massawa Free Zone will have collateral effects leading to growth for the rest of the Eritrean economy.
Eritrea is also planning another free zone in Assab port, near the Djibouti border, as it seeks to take advantage of its strategic location next to bustling shipping lanes to-and-from the Suez Canal. The Assab trade zone is estimated to be launched in 2010.
For more information regarding on “Procedures for Establishing a Project“, please click the link.