Somalia Moves Closer to Saudi-Backed Development Projects

GOOBJOOG NEWS | MOGADISHU: Somalia and the Saudi Fund for Development have agreed to advance technical discussions on new investment projects; a step Somali officials say could help drive reconstruction and economic recovery.

Finance Minister Bihi Iman Egeh presented Somalia’s investment opportunities to Saudi Fund CEO Sultan bin Abdulrahman Al-Marshad, with both sides identifying priority areas for cooperation. The talks are expected to pave the way for Saudi-backed projects in infrastructure, trade and services.

Officials said the move marks progress in Somalia’s push to attract long-term partners to rebuild its economy and create jobs, while strengthening ties with the Gulf region.