Somalia-EU Business Forum Targets Investment, Jobs and Economic Growth

GOOBJOOG NEWS | MOGADISHU: A two-day business forum bringing together Somali and European investors, companies and financial institutions is seeking to turn Somalia’s growing investment opportunities into partnerships that can expand production, create jobs and strengthen the country’s private sector.

The Somalia-EU Business Forum, which opened in Mogadishu on Monday, is focusing on sectors including agriculture, livestock, fisheries, energy, digital services, technology, transport and logistics.

The forum, organised by Somalia’s Ministry of Commerce and Industry and the European Union Delegation in Somalia, provides a platform for businesses and investors to examine investment opportunities and discuss the financing and expertise needed to develop them.

Deputy Prime Minister Salah Ahmed Jama, who opened the forum, said Somalia’s economic and institutional reforms should increasingly translate into opportunities for investment and private-sector growth.

The forum comes as Somalia seeks to expand domestic production and reduce barriers to business and investment. Greater investment in productive sectors could help create employment while increasing government revenues and household incomes.

The discussions provide European investors, an opportunity to assess potential projects in a market where agriculture, livestock, fisheries, energy and digital services remain largely underdeveloped.

The forum also brings financial institutions into the discussion, potentially helping connect investment projects with financing and technical expertise.

EU Ambassador to Somalia László Eduárd Máthé and European delegates are attending alongside Somali government officials, business leaders and investors.

The two-day event is expected to include discussions on investment opportunities, technology transfer and ways to strengthen cooperation between Somali businesses and European partners.

Rather than focusing only on attracting capital, the forum is aimed at building longer-term commercial partnerships that can help Somalia develop its productive sectors and generate more economic activity at home.