In a significant step toward boosting Somaliland’s fisheries sector, the Minister of Fisheries and Marine Resources, Hon. Ali Jama Farah, alongside Deputy Minister Sharmaarke Abdi Muuse and Director General Liban Mahmoud Diriye, hosted a high-level delegation from the Taiwan Business Association at the ministry’s headquarters today. The meeting, held in the ministry’s conference room, focused on exploring investment opportunities and fostering bilateral cooperation in Somaliland’s fisheries industry.
The Taiwanese delegation, representing a consortium of prominent business entities, expressed strong interest in investing in Somaliland’s fisheries sector, citing its untapped potential and strategic location along key maritime routes. The delegation outlined their commitment to establishing mutually beneficial partnerships, emphasizing sustainable fishing practices, infrastructure development, and technology transfer to enhance local capacities.
Minister Farah welcomed the delegation, highlighting Somaliland’s rich marine resources and favorable investment climate. “Our fisheries sector offers immense opportunities for growth, from modernizing fishing techniques to developing value-added seafood processing,” he stated. Deputy Minister Muuse and Director General Diriye provided detailed presentations on the investment prospects, including access to Somaliland’s Exclusive Economic Zone (EEZ) and incentives for foreign investors.
The discussions culminated in a mutual agreement to pursue a comprehensive partnership. Both sides committed to forming a joint working group to finalize investment plans.
This meeting follows Somaliland’s recent efforts to attract foreign investment, including the Somaliland-UAE Business Summit held last week in Dubai, which showcased opportunities in multiple sectors, including fisheries. The collaboration with Taiwan also builds on the growing diplomatic and economic ties between the two nations, exemplified by a recent $2.5 million humanitarian grant from Taiwan to Somaliland’s humanitarian efforts.