The Government of Somaliland is proud to launch its first Investment Guide. The creation of this document and web portal is a signal to local, diaspora and foreign investors that Somaliland is “open for business.” It also marks a milestone in our progress from post-conflict stability and recovery to sustainable economic growth and development.
I am honored to have been nominated as the Minister of Commerce of the Republic of Somaliland.Accordingly, it gives a great pleasure to extend my best wishes to the Ministry of Commerce family and to all business communities and organizationsthat have played a vital role in the development of the economy of Somaliland over the years. I particularly wish the courageous foreign investors every success and prosperity in the years ahead.As a Minister of Commerce,trade and investment will be a major priority of my job. I will certainly work hard to open up new markets for our goods outside of Somaliland and invite long-term investors to the country byremoving all obstaclesand offering significant incentives.
Somaliland has made a remarkable progress since the devastating civil war of 1980s by restoring peace and stability without outside help. Consequently,we have adopted a democratic system of government in which all eligible citizens are ableto participate in a free and fair elections held regularly.Evidently, considerable achievement in the areas of education, medical services, water expansion and infrastructure has been made. Furthermore, political and commercial ties with the neighboring countries, includingDjibouti and Ethiopia have been secured.Trade between Somaliland and some countries in the Middle East has reacheda comfortable level. Livestock husbandry and export which have always been the backbone of the Somalilandattract the consumers in the Gulf States, Yemen, Egypt and Kuwait. Especially, sheepwith its reputation of having tender, good taste and low fat mutton is favored by the consumers in Saudi Arabia and UAE.Cattleis normally raised in a fairly harsh environment conditionsis reputed to have better quality, reasonably lean and tender meatis mainly exported to Yemen and Oman.
Notwithstanding that Somaliland has a coastline of 850 Km with diverse species of reef fishes, pelagic fishes cetaceans, birds, turtles, coral reefs, fauna, seaweed and mangrove, there is only a small-scale of fishing that takes place along the coast centered atBerbera, Seysac,Maydh and Lasqoray. Therefore, fisheryis one of the sectors with great investment opportunity in Somaliland.Direct foreign and joint-ventures investments in fishery will undoubtedly improve the economy and create thousands of jobs.Agriculture is another areawhich requires an expansion throughout the nation. Approximately, 95% of the potential farming land remains either uncultivated or under cultivated.
Somaliland’s deposits of oil and coal have attracted foreign investors, includingGenel, DNO, and Ophir and agreements of exploration and production rights have already been reached. Somaliland has also large proven deposits of minerals, including gypsum, gold, iron, lead and quartz. There are also gemstones, such as emeralds, rubies, garnets, sapphires, aquamarines and opals.The cementfactoryat Berberaonceused to produce enough cement for all Somalia was unfortunately destroyed during the civil war. Therefore, Somaliland welcomes any investor(s)interested in rebuilding the factoryand that will improve the economy and create significant number of jobs. A pilot project of wind and solar energy at Hargeisa International Airport has been successfully completedand is operational.As a Minister of Commerce, I unequivocally guarantee the security and safety of any investment in Somaliland as well as smooth process of registration and it is virtually certain that investors will get satisfactory results.
If for any question(s), please feel free to contact me at …………. or email to:……
The Ministry of Commerce is responsible for the promotion of job creation and economic growth by empowering the Somaliland businesses and entrepreneurs with highly targeted Micro-loan programs, Somaliland Business Fund and United States Agency of International Development programs. These will stimulate the private sector to increase the productivity, create new jobs and increase the tax base. The Ministry works in partnership with business owners, communities, Regional Governments, Local Governments, National Bank, private lenders and the Chamber of Commerce.
The Ministry is also responsible for the formulation and implementation of the Government progressive policies on matters pertaining to trade, investment and protection of the interest of consumers, in such a way that it will contribute positively towards the further development of the Somaliland economy and the well-being of the population of the country.
The 5th Economic Sector Coordination Meeting held today at Maansoor Hotel was a good opportunity for all the different actors in the Economy get a brief summary of the Economic analysis in Somaliland and available options for growth and sustainability. We are grateful to the presenters in the conference including the Minister for National Planning and Development.