Somalia Concludes international investment conference in Mogadishu

Somalia has concluded the first ever Somalia international investment conference organized by Somalia Investment Promotion Office (SOMINVEST). the ‘Conference targets Fortune Global 500 companies, institutional investors, and development financial institutions to promote and connect opportunities in Somalia to global investors and partner states for mutually beneficial bilateral investment treaties.’

Somalia expressed its readiness for foreign investment while lauding the business community for its resilience and exponential business growth. The conference which started Monday was attended by both local and international dignitaries.

There were also keynote speeches and panel discussions during the event. Most of the guest speakers agreed on in their speeches the need for urgent international investment in this horn of africa state.

President Hassan Sheikh Mohamud said Somalia is well endowed with natural resources and a history of resilient entrepreneurship. He noted that the partnership between the private sector and the diaspora community has seen exponential growth in sectors such as telecommunication, fisheries and real estate in recent years.

The conference provides a forum for local and international investors and the government to interact and explore business opportunities in the country.
According to the organizer of the event, Somalia Investment Promotion Office (SOMINVEST), the ‘Conference targets Fortune Global 500 companies, institutional investors, and development financial institutions to promote and connect opportunities in Somalia to global investors and partner states for mutually beneficial bilateral investment treaties.’
The investment department notes that Somalia has set out ten priority sectors notably livestock, fisheries, farming, energy, human capital, technology, banking and finance, service sector, manufacturing, transport and infrastructure.