In Qatar, Hassan Sheikh encourages investors to turn eye to Somalia

DOHA, Qatar - Somalia is a land with plenty of investment opportunities which the world should appreciate, President Hassan Sheikh Mohamud has said, noting that the Horn of Africa nation has opened doors for those willing to pursue private investments which would boost the nation's grounded economy.

The private sector, the Somali president said, plays an indispensable role in enhancing the commercial relationship between the two sisterly nations, whose cooperation has been cordial for several years. Qatar is a major financial and security partner of Somalia and her role has been manifested in the fight against Al-Shabaab and support of development activities.

While meeting a delegation from the Qatar Chamber of Commerce under Jassim Al-Thani, Hassan Sheikh urged the business community to consider ingesting in Somalia, arguing that security has relatively improved while taking into account the recent crackdown against the Al-Qaeda-linked group.

According to Qatar News Agency, Hassan Sheikh touched on the investment climate in his country and the incentives it offers for investments, calling Qatari businessmen to explore the opportunities available in Somalia in establishing projects in various sectors viable in the country.

Some of the sectors available for investment opportunities, he said, include infrastructure, services, mining, livestock, fisheries, oil, gas and others, pointing out that Somalia offers a stimulating investment climate and a lot of incentives for foreign investors.

Somalia is characterized by a distinguished geographical location in Africa and has the longest coast in the continent, and it also has the largest number of livestock in Africa, he said pointing out that his country exports livestock to a number of countries through its four ports, where the State of Qatar can import what it needs from the livestock through these ports.

Sheikh Khalifa bin Jassim Al-Thani on his part said that the Qatari private sector is keen to enhance cooperation with its Somalian counterpart, noting that there are many Qatari companies that are interested to invest in Somalia. He vowed to encourage Qatar business owners to consider expanding their empires to Somalia.

For a period of seven months, Somalia has enjoyed relative peace following the first phase of operations against Al-Shabaab which left over 3,000 militants dead. The investment atmosphere, the president noted, "is ideal for now and probably in the future since we are making tangible strides".

Hassan Sheikh has been in Qatar for a two-day state visit which centrally focused on improving bilateral ties between Somalia and the Middle East nation. Hassan Sheikh has been rallying for support from international partners on matters of development and war against violent extremists.

GAROWE ONLINE