President Mohamud Urges Foreign Investment in Agriculture, Says Somalia Open for Business

GOOBJOOG NEWS|MOGADISHU: President Hassan Sheikh Mohamud has called for international investment in Somalia’s agricultural sector noting the Horn of Africa country presents immense opportunities for exponential production in the agricultural value chain.

Speaking at the first international conference on agro-value chain investment event which was co-hosted by the European Union, President Mohamud said Somalia has immense potential to not only feed itself but also export agricultural products to various parts of the world.

“Somalia is uniquely positioned to be a powerhouse in agriculture. Our fertile land is rich across diverse climates ideal for producing a wide variety of crops,” President Mohamud said. Yet of this opportunity remains untapped offering significant opportunities for international investors to play a pivotal role in revitalising our agricultural sectors.”

He added that his government was ready to welcome and work with foreign investors to realise the potential of the agricultural sector.

“As President, I assure you that my government is committed to working with international investors to unlock this potential. We are ready to facilitate your entry into our market and provide the support you need to ensure that your investments are not only profitable but also sustainable benefiting both the people of Somalia and the world at large.”

He noted that Somalia ‘offers unmatched access to international markets, whether you are targeting booming economies of Asia, increasing demand in Europe or expanding markets in Middles East and East Africa.’

Noting that it was time to invest in Somalia’s agricultural value chain, President Mohamud said, “Together we can unlock a brighter more prosperous future for all of us.” He called for investment in better storage, transporting and processing facilities to transform raw agricultural output into high-value exports to unlock greater profitability for all stakeholders involved.

The President cited Somalia’s sesame production as a success story and called for more investment in irrigation and modern farming techniques to double yields.

The head of state further noted that Somalia’s geographic advantage e makes it an ideal logistical hub for agricultural exports adding that ports such as Kismayo, Mogadishu and Berbera present a huge transport potential to the rest of the world.

Noting that Somalia’s growth trajectory lies in its people, President Mohamud said the country’s young population will play a critical role in rebuilding the agricultural sector. “Somalia’s true lies in its young, dynamic population who are eager to embrace innovation.

On the business environment, President Mohamud said the government had put in place requisite legal and policy frameworks to not only attract investment but also protect and spur its growth. He singled out the Investment and Investment Protection Laws complemented by efforts to improve security, infrastructure and access to finance.

“Through National Transformation Plan has laid the foundation to make this vision a reality. We are committed to improving agricultural infrastructure, promoting private sector engagement and fostering innovation across the entire value chain,” President Mohamud said.