The Somaliland government continues to demonstrate its unwavering commitment to attracting foreign investment, showcasing clear efforts to encourage international investors through collaborative and effective initiatives that are steadily flowing into Somaliland.
A report prepared by the Editor-in-Chief of Dawan Newspaper, Ahmed M. Saleban, highlights that the Minister of Investment and Industry, Hon. Said Mohamed, whose ministry is responsible for promoting international investment, has been actively engaged in recent months in efforts to strengthen these initiatives.
He has held a series of meetings with companies and business leaders from various countries worldwide. Among the latest steps taken by the Somaliland Ministry of Investment and Industry was a negotiation between the ministry and the Chairman of the Russian-African Business Association (Afriocom Trading), Mr. Igor Morozov, and his delegation.
This is part of the ministry’s efforts to promote foreign investment by holding strategic meetings with international business leaders. The meeting explored how Russian investors could directly participate in partnerships and collaborations to advance Somaliland’s economic development, particularly in the areas of industry, infrastructure, and food production.
Special emphasis was placed on Somaliland’s critical role in the Horn of Africa, positioning it as an ideal hub for investment. The Ministry of Investment and the Chairman of Afriocom Trading agreed on several key points to support Somaliland’s government in its efforts to boost the nation’s economy, including: –
Food Security Investment: The importance of developing domestic agricultural production and establishing food processing industries was recognized. This would reduce reliance on imports, create job opportunities, and foster economic growth. –
Investment in Manufacturing Industries: Discussions also focused on encouraging investment in manufacturing industries to process local goods, thereby increasing the value addition of the country’s resources. –
Infrastructure and Logistics Investment: Given Somaliland’s strategic geographic location, the meeting highlighted the need to develop export routes, ports, and connectivity to regional and international markets.
This new partnership with Russian investors underscores the growing confidence in Somaliland globally. It represents a significant step toward achieving sustainable economic growth, building modern industries, creating job opportunities, increasing production, and strengthening Somaliland’s economic independence.
Additionally, the Minister of Investment held a meeting with a delegation of investors from Vallis Advisory Limited, a UK-based company operating in over 50 countries across Europe, Asia, and Africa. With extensive expertise in supply chain services, this company is particularly vital to Somaliland’s economic development, especially in marketing, storage, and export of locally produced goods.
This meeting, held at a time when Somaliland is making tangible strides in investment, demonstrates that international countries and companies are genuinely interested in the investment opportunities in Somaliland.
The delegation from Vallis Advisory Limited based their visit on a thorough exploration of these opportunities, reflecting the Somaliland government’s proactive and collaborative approach in creating an open investment environment aligned with international standards and strengthening global economic and trade partnerships.
On another front, the Director General of the Ministry of Investment and Industry, Mr. Abdifatah Ismail Duale, showcased Somaliland’s golden investment opportunities in the United Arab Emirates.
His ten-day visit was aimed at elevating Somaliland’s profile in the global investment arena, reinforcing its efforts to become a key trade and economic development hub in the Horn of Africa.
The Director General’s visit was fruitful and aligned with the ministry’s overarching goal: to position Somaliland as a reliable destination for advancing trade, industry, and international economic cooperation. This marks another step toward Somaliland’s growth and transformation into a future of economic prosperity.
An analysis by Dawan Newspaper, which closely followed the ministry’s consistent efforts, commended the proactive work of the Minister of Investment and Industry in promoting and marketing Somaliland’s investment opportunities and engaging with international organizations and companies.
The Minister and the ministry’s team are undertaking dedicated efforts essential to ensuring these opportunities bear fruit, supported by effective plans to implement the targeted investments.
Furthermore, the ministry’s efforts to expedite the reform of investment laws and regulations to align with international standards and build investor confidence are commendable.
Somaliland possesses golden opportunities due to its abundant resources, and it is imperative that the Somaliland public strongly supports the efforts of the Ministry of Investment and the proactive government to capitalize on these opportunities.
The Somaliland government appears to have launched a global campaign and concerted efforts to secure the investment the country needs, focusing on creating jobs, boosting local production, and establishing industries that contribute to a stable economic future.