The Ministry of Investment Development and Industry of the Republic of Somaliland has officially welcomed a high-level delegation from the Kingdom of Saudi Arabia, whose visit is aimed at assessing and exploring investment opportunities in the country.
The official reception was led by the Director General of the Ministry, Mr. Abdifatah Ismail Duale, who stated that the purpose of the delegation’s visit is to review ongoing projects and explore new potential opportunities for implementation within Somaliland. He specifically highlighted the role of these opportunities in job creation, boosting national revenue, and reducing poverty.
The delegation, representing stakeholders and investors from Saudi Arabia, is expected to closely examine critical sectors requiring urgent investment, including:
– Processing of marine resources, particularly fisheries and fish production;
– Extraction and utilization of natural minerals;
– Development of livestock and industries related to livestock resources;
– Economic infrastructure such as energy, construction, and light industry technologies.
The reception of this delegation underscores the tangible steps Somaliland is taking to establish itself on the investment map of the Horn of Africa. Notably, the Director General transparently presented to the delegation the ministry’s plans and strategies aimed at transforming Somaliland into a hub for sustainable investment, leveraging its natural resources and open markets.
As evident from the delegation’s visit and their formal interactions with Somaliland’s leadership, there is a growing confidence within the international community, particularly among Gulf countries, in Somaliland’s political stability and business opportunities. This also serves as clear evidence that investment is the most direct path to genuine economic and social progress.
The delegation ultimately commended the ministry’s efficiency, preparedness, and forward-thinking ambition in promoting investment, pledging to maintain ongoing communication and further explore mutually beneficial opportunities.
Such receptions and discussions are proof that the Somaliland government is on the right path to positioning the country as a vital commercial and investment center in the region.