Stakeholders Urge Private Sector to Invest in Blue Economy and Fisheries Industry

GOOBJOOG NEWS|MOGADISHU: Somali business leaders have been urged to expand their investments into the country’s blue economy, with a particular focus on fisheries and marine resource development, as the government seeks to unlock the sector’s economic potential.
During a forum on promoting the blue economy and investment, participants encouraged entrepreneurs to move beyond trading consumer goods and channel capital into productive industries such as fish processing, modern cold storage facilities, and job-creating projects aimed at strengthening the national economy.
Speakers at the event stressed that greater private sector investment in fisheries and marine industries would help diversify Somalia’s economy while creating employment opportunities and increasing the value derived from the country’s extensive coastline and marine resources.
The forum also highlighted opportunities for foreign investors seeking to operate in Somalia, noting that they would be encouraged to partner with local businesses to boost investment, facilitate technology transfer, and promote the exchange of expertise.
Government officials, including the Minister of Fisheries and Blue Economy, reaffirmed the Federal Government of Somalia’s commitment to supporting domestic and foreign investment. They said the government is prepared to streamline legal and regulatory procedures to facilitate projects that generate jobs and promote sustainable development of the blue economy.
The meeting also showcased the role of SOMTURK, a joint venture established in December 2025 by the Federal Government of Somalia and Turkey’s OYAK Group.
According to officials, SOMTURK aims to advance Somalia’s blue economy through sustainable management of marine resources, combating illegal fishing, and modernising fisheries infrastructure.
The company is expected to play a leading role in regulating fishing licences, developing cold storage facilities and fish processing industries. Officials said the initiative is expected to increase government revenue, create thousands of jobs, and help position Somalia’s fisheries sector to access international markets through modern technology and improved industry standards.