2022 SOMALILAND ECONOMIC FORUM

12th -14th 2022

COMMUNIQUE

 Hargeisa, 12th -14th 2022 MOFD. The government of Somaliland hosted the 2022 Somaliland Economic Forum in Hargeisa, the country's capital, on September 12–14, 2022. The three-day forum drew more than 300 attendees from the government, businesses, local and international organizations, academics, experts, and economists. The main objective of the 2022 Somaliland Economic Forum was to bring together government officials and experts from all walks of life to discuss potential economic policy ideas and solutions to the country's economic problems.

The 2022 Somaliland Economic Forum released the following statement:

  1. The forum would like first to express its gratitude to all the participants, stakeholders and experts who took part throughout the course of the three days.
  2. In order to increase agricultural productivity, the forum recommends prioritizing the availability of water, high-quality seeds, and pesticides to combat agricultural pests.
  3. The forum recommends for facilitating and streamlining access to capital for the country's productive sector.
  4. The forum suggests establishment of National research Center that conducts comprehensive research into issues relating to the sector.
  5. In light of the importance of data and information, the forum suggests improving the statistics and data relevant to the various sectors of the national economy.
  6. The forum recommends that the government increase budget for initiatives aimed at boosting the local productive sector.
  7. The forum proposes incentives for the producing sector while doing in-depth research on the challenges they face.
  8. The forum recommends Somaliland Development Bank that closely supports the country's productive sector is to be established,
  9. The forum recommends for increasing vocational training and education as it recognizes how crucial it is for young people to acquire knowledge and relevant skills to the market.
  10. The Forum recommends the formulation of economic and trade-related policies and laws.
  11. The forum recommends the establishment of industrial zones throughout the internal regions of the country.
  12. The Forum acknowledges the significance of micro, small, and medium-sized businesses to the country's economy. Therefore, while dealing with international agreements that might affect them, it calls for extra consideration to be given to their economic status.
  13. The forum recommends accessible and affordable energy.
  14. The forum recommends for identifying trade and services as the primary economic drivers for Somaliland due to the significance of Somaliland's geographic position.
  15. The forum recommends to develop hard infrastructure, including its ports, airports, and roads and bridges.
  16. The forum recommends the establishment of a Ministry of Economic Development
  17. The forum recommends increasing society's financial literacy levels.
  18. The Forum recommends the strengthening of collaboration amongst Government offices as it acknowledges the significance of inter-agency cooperation among Government offices.
  19. The Somaliland Economic Forum should continue to take place each year, the forum concludes.

END -

 

2022 SOMALILAND ECONOMIC FORUM

12th -14th 2022          COMMUNIQUE

 The government of Somaliland hosted the 2022 Somaliland Economic Forum in Hargeisa, the country's capital, on September 12–14, 2022. The three-day forum drew more than 300 attendees from the government, businesses, local and international organizations, academics, experts, and economists. The main objective of the 2022 Somaliland Economic Forum was to bring together government officials and experts from all walks of life to discuss potential economic policy ideas and solutions to the country's economic problems.

The 2022 Somaliland Economic Forum released the following statement:

  1. The forum would like first to express its gratitude to all the participants, stakeholders and experts who took part throughout the course of the three days.
  2. In order to increase agricultural productivity, the forum recommends prioritizing the availability of water, high-quality seeds, and pesticides to combat agricultural pests.
  3. The forum recommends for facilitating and streamlining access to capital for the country's productive sector.
  4. The forum suggests establishment of National research Center that conducts comprehensive research into issues relating to the sector.
  5. In light of the importance of data and information, the forum suggests improving the statistics and data relevant to the various sectors of the national economy.
  6. The forum recommends that the government increase budget for initiatives aimed at boosting the local productive sector.
  7. The forum proposes incentives for the producing sector while doing in-depth research on the challenges they face.
  8. The forum recommends Somaliland Development Bank that closely supports the country's productive sector is to be established,
  9. The forum recommends for increasing vocational training and education as it recognizes how crucial it is for young people to acquire knowledge and relevant skills to the market.
  10. The Forum recommends the formulation of economic and trade-related policies and laws.
  11. The forum recommends the establishment of industrial zones throughout the internal regions of the country.
  12. The Forum acknowledges the significance of micro, small, and medium-sized businesses to the country's economy. Therefore, while dealing with international agreements that might affect them, it calls for extra consideration to be given to their economic status.
  13. The forum recommends accessible and affordable energy.
  14. The forum recommends for identifying trade and services as the primary economic drivers for Somaliland due to the significance of Somaliland's geographic position.
  15. The forum recommends to develop hard infrastructure, including its ports, airports, and roads and bridges.
  16. The forum recommends the establishment of a Ministry of Economic Development
  17. The forum recommends increasing society's financial literacy levels.
  18. The Forum recommends the strengthening of collaboration amongst Government offices as it acknowledges the significance of inter-agency cooperation among Government offices.
  19. The Somaliland Economic Forum should continue to take place each year, the forum concludes.

 

END -

 

Construction of Infrastructure in the Republic of Somaliland


Hargeisa 28 Feb,2022 {WHM} After thirty years of independence, when Somaliland regain its independence from the other part of Somalia, has made significant strides in terms of democracy, free and fair elections, and a period of change. 5 Presidents, one of the other things that makes Somaliland different from other countries in the region is ensuring security, while achieving complete and reliable stability.

The private sector has also made significant strides during Somaliland's three decades of independence, taking advantage of the free market policy adopted by the fledgling republic, its political openness and stability.

However, Somaliland has faced significant challenges in infrastructure development such as; roads and bridges, which facilitate the movement of people and goods between and from the regions and districts of the country, and often worsen during the rainy season. An example is the two main roads that connect the city of Berbera to the International Port of Berbera and the rest of the country, where most of the country's goods are import and export. The main road connecting the capital city of Hargeisa and the Port of Berbera, which is about 160km long, has more than seven rivers without a single bridge. Those rivers have lost many people and animals during the floods.

The Dacar-Budhuq River in the Maroodijeh region of Las-Geel district has been one of the most dangerous areas for the people of Somaliland, with hundreds of people and millions of assets missing from us over the past thirty years. This river has taken away from us many elites who would benefit themselves, their families and their nation in various ways.

 

Today, 28/02/2022, the President of the Republic of Somaliland, HE. Muse Bihi Abdi, untied the 105m and 12.8m Dacar-Budhuq Bridge, a project funded by the United Arab Emirates and part of from the large-scale Berbera Corridor project.

The opening of the Dacar-Budhuq Bridge is the beginning of several bridges that will all be funded by the Berbera Corridor project.

 

Department of Public Relations and Data

www.slmof.org/ www.som.slmof.org

Info@slmof.org

513856

Whatsap No: + 252-657729999

274754514_508362330650009_2629976539391585631_n
274497141_508363680649874_4582767073219729074_n

Somaliland president his Excellency, Muse Bihi Abdi officially launched historic project labeled Berbera Free zone in a highly organized ceremony held at Mansor Hotel - Dec 2019


On December 10, 2019, Somaliland president his Excellency, Muse Bihi Abdi has officially launched a huge project labeled Berbera Economic Free Zone in a highly organized event held at Mansor Hotel in a high protocol fashion. Speaking in the event, the President has spoken the importance of free zone to Somaliland economy and the region as well.  Continuing in his speech, the president thanked the UAE government and DPW for the huge investment they have decided to carry out in the port of Berbera. Being inspired by the importance of the project to Somaliland economy and the region, the president also underscored the UAE’s injection of multimillion-dollar project investment in Somaliland as this project will serve the bilateral interest of the countries.  Somaliland and UAE have a historic relationship way back to centuries ago.  The president further elaborated on the long term goal of the government concerning the development of Berbera port expansion and the setup of its economic free zone. The objective behind this historic project is to generate economic prosperity for Somaliland people and to be shared by other countries in the region, said by the president. As mentioned in the above photo, Berbera free zone is modeled on Jabel Ali free zone model.

In his speech, the president added that our ambition is to see Somaliland’s prosperity whereby its beginning is the port modernization, the construction of the Berbera corridor.  Berbera airport will be an international one and a commercial hub, said by the president. Somaliland government high ranking officials including the two house speakers, DP world deputy chairman, ambassadors from the region, government ministries, Berbera and Hargeisa cities mayors, representatives from Somaliland business community have attended the inauguration ceremony.  Speaking in the ceremony,   DP World Deputy Manager, Suhail Al Banna in his part has thanked Somaliland government and its people for the warm welcome extended to him by Somaliland people.

The president has reiterated that in order to push the country’s progress forward that it is quite important to build improve roads, communication, ports  and getting electricity where people who are coming to Somaliland and foreigners can bank on. The president said, there is a need to have Somaliland citizens who have the capacity and the desired knowledge to run such huge investment projects. In the ceremony, on behalf of the government, Somaliland’s minister of finance Dr. Sa’ad Ali Shire and DPW deputy manager Suhail Al Banna representing DP world have inked Berbera Economic Free Zone agreement.  Upon completion,   Berbera free zone will attract additional investment opportunities, encourage trade, creates new for Somaliland job market. Above this, Berbera's strategic location is proved to be the gate in the horn of Africa and beyond.

The free zone will target a wide range of businesses including warehousing, logistics, traders, manufacturers, and other related businesses. Free Zone is an economic concept whereby producers and suppliers and customers get together on a non-regulated free enterprise system of an economic setup. Free Zone will facilitate investors to come into the country and produce manufacturing products without paying taxes. All types of restrictions with regard rules and regulations are waived with regard investors. In turn, this will encourage foreign investors investing in Somaliland as their investments, assets, and interests will be protected in the Somaliland government.  The motivation behind creating Berbera's free zone is the desire to attract foreign direct investment in Somaliland. Being the gate of the red sea and horn Africa, Berbera free zone will attract foreign in proposition composition. It will be a business center whereby rules and regulations are different than the rest of Somaliland.


Somaliland ICT Conference 2019 - September


The Ministry of Communication and Technology and Ministry of Finance Development organized the first Conference on Somaliland Information and Communication (ICT) 2019, under the theme of ICT for development and Empowering Success on September 07-08, 2019 at Maansoor Hotel, Hargeisa Somaliland.


February Working Progress Meeting


Hargeisa, Somaliland; 13/03/2019 – Yesterday on 12/03/2019 the ministry’s departments has been presented their February work progress compared to the actual work plan. The departments has been presented their achievements as well as challenges they have faced.

This meeting which occurred at the ministry’s office has been leaded by the minister of Finance Dr. Sa’ad Ali Shire and the Director General Mr. Mohamed Abdi Gurhan.

This meeting has taken 4 hours has been agreed to solve all the challenges faced by the departments which may obstacle the implementation of each departments work plan as well as to continue all the meetings until all problems would be resolved.

This system of preparing the work plan and monitoring the departments are new to the Ministry of Finance. This meeting is the second of its kind which intended to review and enhance the mass work charged by each department.

On the other hand, it facilitates to each and every department to be accountable. It will cause to realize the direction of the ministry as a whole which will lead to a transparent system which will monitor and evaluate for the officials and the general staff of the Ministry Development of the Republic of Somaliland.

Similarly, since the Ministry of Finance appointed by Minister of Finance Dr Sa’ad Ali Shire, he has completely changed over all Ministry’s working system, which facilitates each ministry official to be assigned a task which will lead to make a follow up. Furthermore, all the staff has been informed to implement all their required tasks.

 January Working Progress Meeting


The ministry’s departments has been presented their January’s working progress compared to the actual work plan. The departments has been presented their achievements as well as challenges they have faced.

This meeting which occurred at the ministry’s office has been leaded by the minister of Finance Dr. Sa’ad Ali Shire and the Director General Mr. Mohamed Abdi Gurhan.

This meeting has taken 4 hours has been agreed to solve all the challenges faced by the departments which may obstacle the implementation of each departments work plan as well as to continue all the meetings until all problems would be resolved.

This system of preparing the work plan and monitoring the departments are new to the Ministry of Finance. This meeting is the first of its kind which intended to review and enhance the mass work charged by each department.

On the other hand, it facilitates to each and every department to be accountable. It will cause to realize the direction of the ministry as a whole which will lead to a transparent system which will monitor and evaluate for the officials and the general staff of the Ministry Development of the Republic of Somaliland.

Similarly, since the Ministry of Finance appointed by Minister of Finance Dr Sa’ad Ali Shire, he has completely changed over all Ministry’s working system, which facilitates each ministry official to be assigned a task which will lead to make a follow up. Furthermore, all the staff has been informed to implement all their required tasks.

 

Construction of Infrastructure in the Republic of Somaliland


Hargeisa 28 Feb,2022 {WHM} After thirty years of independence, when Somaliland regain its independence from the other part of Somalia, has made significant strides in terms of democracy, free and fair elections, and a period of change. 5 Presidents, one of the other things that makes Somaliland different from other countries in the region is ensuring security, while achieving complete and reliable stability.

The private sector has also made significant strides during Somaliland's three decades of independence, taking advantage of the free market policy adopted by the fledgling republic, its political openness and stability.

However, Somaliland has faced significant challenges in infrastructure development such as; roads and bridges, which facilitate the movement of people and goods between and from the regions and districts of the country, and often worsen during the rainy season. An example is the two main roads that connect the city of Berbera to the International Port of Berbera and the rest of the country, where most of the country's goods are import and export. The main road connecting the capital city of Hargeisa and the Port of Berbera, which is about 160km long, has more than seven rivers without a single bridge. Those rivers have lost many people and animals during the floods.

The Dacar-Budhuq River in the Maroodijeh region of Las-Geel district has been one of the most dangerous areas for the people of Somaliland, with hundreds of people and millions of assets missing from us over the past thirty years. This river has taken away from us many elites who would benefit themselves, their families and their nation in various ways.

 

Today, 28/02/2022, the President of the Republic of Somaliland, HE. Muse Bihi Abdi, untied the 105m and 12.8m Dacar-Budhuq Bridge, a project funded by the United Arab Emirates and part of from the large-scale Berbera Corridor project.

The opening of the Dacar-Budhuq Bridge is the beginning of several bridges that will all be funded by the Berbera Corridor project.

 

Department of Public Relations and Data

www.slmof.org/ www.som.slmof.org

Info@slmof.org

513856

Whatsap No: + 252-657729999

274754514_508362330650009_2629976539391585631_n
274497141_508363680649874_4582767073219729074_n

Somaliland president his Excellency, Muse Bihi Abdi officially launched historic project labeled Berbera Free zone in a highly organized ceremony held at Mansor Hotel - Dec 2019


On December 10, 2019, Somaliland president his Excellency, Muse Bihi Abdi has officially launched a huge project labeled Berbera Economic Free Zone in a highly organized event held at Mansor Hotel in a high protocol fashion. Speaking in the event, the President has spoken the importance of free zone to Somaliland economy and the region as well.  Continuing in his speech, the president thanked the UAE government and DPW for the huge investment they have decided to carry out in the port of Berbera. Being inspired by the importance of the project to Somaliland economy and the region, the president also underscored the UAE’s injection of multimillion-dollar project investment in Somaliland as this project will serve the bilateral interest of the countries.  Somaliland and UAE have a historic relationship way back to centuries ago.  The president further elaborated on the long term goal of the government concerning the development of Berbera port expansion and the setup of its economic free zone. The objective behind this historic project is to generate economic prosperity for Somaliland people and to be shared by other countries in the region, said by the president. As mentioned in the above photo, Berbera free zone is modeled on Jabel Ali free zone model.

In his speech, the president added that our ambition is to see Somaliland’s prosperity whereby its beginning is the port modernization, the construction of the Berbera corridor.  Berbera airport will be an international one and a commercial hub, said by the president. Somaliland government high ranking officials including the two house speakers, DP world deputy chairman, ambassadors from the region, government ministries, Berbera and Hargeisa cities mayors, representatives from Somaliland business community have attended the inauguration ceremony.  Speaking in the ceremony,   DP World Deputy Manager, Suhail Al Banna in his part has thanked Somaliland government and its people for the warm welcome extended to him by Somaliland people.

The president has reiterated that in order to push the country’s progress forward that it is quite important to build improve roads, communication, ports  and getting electricity where people who are coming to Somaliland and foreigners can bank on. The president said, there is a need to have Somaliland citizens who have the capacity and the desired knowledge to run such huge investment projects. In the ceremony, on behalf of the government, Somaliland’s minister of finance Dr. Sa’ad Ali Shire and DPW deputy manager Suhail Al Banna representing DP world have inked Berbera Economic Free Zone agreement.  Upon completion,   Berbera free zone will attract additional investment opportunities, encourage trade, creates new for Somaliland job market. Above this, Berbera's strategic location is proved to be the gate in the horn of Africa and beyond.

The free zone will target a wide range of businesses including warehousing, logistics, traders, manufacturers, and other related businesses. Free Zone is an economic concept whereby producers and suppliers and customers get together on a non-regulated free enterprise system of an economic setup. Free Zone will facilitate investors to come into the country and produce manufacturing products without paying taxes. All types of restrictions with regard rules and regulations are waived with regard investors. In turn, this will encourage foreign investors investing in Somaliland as their investments, assets, and interests will be protected in the Somaliland government.  The motivation behind creating Berbera's free zone is the desire to attract foreign direct investment in Somaliland. Being the gate of the red sea and horn Africa, Berbera free zone will attract foreign in proposition composition. It will be a business center whereby rules and regulations are different than the rest of Somaliland.


Somaliland ICT Conference 2019 - September


The Ministry of Communication and Technology and Ministry of Finance Development organized the first Conference on Somaliland Information and Communication (ICT) 2019, under the theme of ICT for development and Empowering Success on September 07-08, 2019 at Maansoor Hotel, Hargeisa Somaliland.


February Working Progress Meeting


Hargeisa, Somaliland; 13/03/2019 – Yesterday on 12/03/2019 the ministry’s departments has been presented their February work progress compared to the actual work plan. The departments has been presented their achievements as well as challenges they have faced.

This meeting which occurred at the ministry’s office has been leaded by the minister of Finance Dr. Sa’ad Ali Shire and the Director General Mr. Mohamed Abdi Gurhan.

This meeting has taken 4 hours has been agreed to solve all the challenges faced by the departments which may obstacle the implementation of each departments work plan as well as to continue all the meetings until all problems would be resolved.

This system of preparing the work plan and monitoring the departments are new to the Ministry of Finance. This meeting is the second of its kind which intended to review and enhance the mass work charged by each department.

On the other hand, it facilitates to each and every department to be accountable. It will cause to realize the direction of the ministry as a whole which will lead to a transparent system which will monitor and evaluate for the officials and the general staff of the Ministry Development of the Republic of Somaliland.

Similarly, since the Ministry of Finance appointed by Minister of Finance Dr Sa’ad Ali Shire, he has completely changed over all Ministry’s working system, which facilitates each ministry official to be assigned a task which will lead to make a follow up. Furthermore, all the staff has been informed to implement all their required tasks.

 January Working Progress Meeting


The ministry’s departments has been presented their January’s working progress compared to the actual work plan. The departments has been presented their achievements as well as challenges they have faced.

This meeting which occurred at the ministry’s office has been leaded by the minister of Finance Dr. Sa’ad Ali Shire and the Director General Mr. Mohamed Abdi Gurhan.

This meeting has taken 4 hours has been agreed to solve all the challenges faced by the departments which may obstacle the implementation of each departments work plan as well as to continue all the meetings until all problems would be resolved.

This system of preparing the work plan and monitoring the departments are new to the Ministry of Finance. This meeting is the first of its kind which intended to review and enhance the mass work charged by each department.

On the other hand, it facilitates to each and every department to be accountable. It will cause to realize the direction of the ministry as a whole which will lead to a transparent system which will monitor and evaluate for the officials and the general staff of the Ministry Development of the Republic of Somaliland.

Similarly, since the Ministry of Finance appointed by Minister of Finance Dr Sa’ad Ali Shire, he has completely changed over all Ministry’s working system, which facilitates each ministry official to be assigned a task which will lead to make a follow up. Furthermore, all the staff has been informed to implement all their required tasks.