Finance Minister spells out the importance of the Berbera Economic Zone

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Minister of Finance Dr. Saad Ali Shire who said that the Berbera Economic Zone is ready for business, called on interested companies to come closer.
Dr. Saad, who gave a speech at the opening of the Economic Zone, said BEZ was an idea, but today it has been realized.

“We are all privileged to be present and witness this historic event in which we gather here to officially open the first economic zone in Somaliland. That’s Berbera Economic Zone. Sometime back, this was just an idea and dream, today it is a reality. Thanks to Allah.

“But I also would like to express our deep gratitude to everyone who contributed to the realization of this dream.

“I want to mention especially the chairman of DP World, H.E Sultan Bin Ahmed, for his tenacity, never losing faith in the merit of investing in the process of the development of Berbera and Berbera economic zone.

“Ladies and gentlemen, nowadays economic zones are common features in almost every country”.

He continued, “Globally, there are 5400 special economic zones. In our region alone Egypt has 10 economic zones  Eritrea has 3, Djibouti has 2, Ethiopia has 18, and Kenya has 61 economic zones. We are just catching up that’s all.

“The primary objective of special economic zones is creation of employment opportunities, attractions of foreign investments, promotions of exports, stimulation of competitive domestic industries, development of infrastructure, and transfer of know-how.

“Just to give you an example of how important economic zones can be to economic growth, Jebel Ali free zone area is estimated to create a trade value of 100 billion dollars.

“The main reason why companies locate in economic zones is tax concessions, infrastructure, facilities, and a friendly business environment.

“The berbera economic zone has it all. It has also many unique advantages which will contribute to its success. It is located on a strategic maritime highway that connects Europe, the Middle East, and Africa.

“It is a natural getaway to several land-locked countries including Ethiopia, Uganda, and South Sudan.

“It is served by a modern port and a modern airport. It is managed and associated with the world-renowned company,  DP World.

“But to take advantage of all these unique advantages and opportunities we need to show commitment to providing accident services, creating and maintaining a friendly business environment and above all good marketing.

“We need to do a good deal of good marketing.

“Now that the first phase of the project is physically complete the ball is in the court of those who are assigned to manage it.

“Berbera economic zone is in business!

“I want to thank those companies that have decided to locate in Berbera economic zone…And would like to invite those who are considering to join us here.The future is bright and will get there will get there God willing”, he ended.

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