This meeting is about identifying Somalia Investment and development Priority. Each Ministry must take responsibility for its areas of expertise and promote investing in Somalia to the world. Our priorities are in many documents such as the New Deal Compact, Economic Recovery Plan IMF Economic Indicators, AfDB economic outlook and country brief and Economic Assessment by USAID. Went over the available documents on the FOCAAC 2012 outcomes and priority investment areas. This was to stimulate some general discussions and ideas for the session. Went through some of the economic data in the documents with the group.
Ambassador Said reaffirmed this message and stated that the Somali-UAE economic talks is one we must fully capitalize on. All the productive sector related Ministries must participate and put together priority projects and forward it to the Ministry of Planning.
SM Minister Khalid. MFA: Proud that Somalia is today taking the real steps towards development. We are working in a strategic national plan for today and tomorrow. Somalia has left the humanitarian stage and we must now live on what we have and create the opportunities our people need. We have many natural resources and we must be leaders in all of these. Our challenge is to capitalize on all the resources we have at our doorstep.
Foreign Investment law is now in Parliament due to the efforts of MFA and MOPIC. This gives us a great opportunity to attract investment to Somalia in the upcoming FOCAAC and India and Africa talks in November and December. All the relevant Ministries have been notified of what is required from them. Most of them had attended this meeting.
Deputy Minister of Planning mentions the importance of this meeting and Somalia needs investment and we need agreed priorities to present to the world. We need to work across the Government to put together a proposal to investors to market Somalia for the sake of our development. We know our country best and we must market it in a way that benefits both our people and investors. Security is a challenge but investment is possible. This is the message we want to send out.
Somali refugees returning from Yemen and other conflict ridden areas. Around 400,000 IDP’s in Mogadishu alone. Under the Tripartite Agreement with Kenya, Somali refugees are voluntarily returning home now and will be until 2019. Around 100,000 to return voluntarily by next year.
Refugee returnees and IDP’s needs to be included in the national planning process. They must be included in all services to be provided by the State.
The conclusion wasclarifying what was needed to be sent to the Ministry of Planning and this will be taken forward next Tuesday. The focus has to be on marketable investment.