Somaliland: Swedish Financiers to Inspect Investment Opportunities

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VP Sayli meets Swedish officials in StockholmBy: Yusuf M Hasan

HARGEISA (Somalilandsun) – Public and private financing from Sweden is to be availed various sectors in the country.

This was revealed by the Vice president Hon Abdirahman Ismail Sayli, during a press briefing at his offices at the presidency in Hargeisa where he termed this development as the major outcome of his visit to Sweden.

The VP’s delegation which was in Sweden courtesy of Swedish Somalilanders comprised of Planning minister Dr Saad Ali Shire, Deputy Public works Minister Hon Ali Abdi Saaiq, Presidential advisor on political affairs Mr. Abib Diriye Nuur and deputy Gabile mayor Ms Katra Haji Ismail Galayd.

According to VP Sayli the financing promises were made during meetings with official’s in-charge of the African desk in the country’s ministry of foreign affairs, Swedish International Development Agency-SIDA, Legislators as well as the FORM SEAD Non-governmental organization.

The delegation also met and held discussions with Swedish Somalilanders as well as the Mayor of Stockholm Mr. Michael Toostan and a number of assorted Swedish investors. “During the diverse meetings we informed our hosts on prevalent political, economy, democratization and security, we also presented copies of the five years national development plan and Somaliland 2030 vision” said VP Sayli

He added that the Stockholm municipality discussions that centred on twining boroughs of the city with Somaliland cities ended in a positive note with the mayor promising to pursue the issue with members of the municipality.

As per the anticipated investments the VP said that this will be mostly in the areas of Agriculture, Fisheries, Minerals, Oil, Livestock among others, Said he, “After perusal of our 5 years NDP the Swedish investors showed an interest in the above areas due to their abundance and yet virgin development”.

This achievements when availed will be a major scoop for the country in generals and specific to VP Sayli who has within a period of a fortnight has entered into several diplomatic and development agreements with not only the swedes but Djiboutian as well.

On the other hand, it is possible that that the covert hand of president Gelle of Djibouti is involved in the Swedish financing developments as he had promised to solicit foreign investment for Somaliland during the VPs visit to that neighbouring country.

The Gelle interest is said to emanate from the recent successful launching of the $17m Coca-Cola bottling plant at Jalelo village in the outskirts of Hargeisa. The plants launching ceremony saw a high level participation of a number of senior Cabinet ministers and business tycoons from Djibouti that elicited Rumours to the effect that president Gelle is a major shareholder in the plant.

The bottling plant in question which is a $17,000,000 investment by Coca-Cola and its local partner the Somaliland Beverage Industries-SBI that owns 100% local franchise was commissioned by Somaliland president H.E Ahmed Mahmoud Silanyo on 3rd June 2012. The bottling plant which has a production capacity of 18,000 crates of assorted high quality Soda’s is the biggest foreign investment in the country to date and has already availed hundreds of both direct and indirect employment opportunities nationwide.

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