Somaliland: Turkish Investors Identify Sectors of Interest

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Dr Omar, Somaliland trade minister

By: Yusuf M Hasan

Somalilandsun – A number of investors from Turkey are expected to shortly visit Somaliland with intent to finalize arrangements for investment in the country.

This was revealed by the Minister of Trade and Foreign Investment Dr Mohamed Abdilahi Omar in an interview with Somalilandsun in which he also informed that the proposed foreign investment agency under development by his ministry is about to mature.

Dr Omar who was part of the recent president Silanyo official delegation to Turkey said that apart from arrangements for Economic development assistance made with the Turkish government several private investors also made congregate pledges for establishing trade links.

On the specific areas that the government in Ankara promised intervention the trade minister said, “Discussions between President Ahmed Mahmud Silanyo with Turkish Premiere Tayyip Erdoğan and other senior officials resulted in agreement on Turkish support in developing the Livestock, Power/Energy and Water Sectors as well as Port Development”

While informing that the private investors currently preparing final touches to investing in Somaliland include those dealing in power/electricity production, Food processing and Textile Dr Mohamed Abdilahi Omar said these concerns who not only want to profit commercially but develop livelihoods in Somaliland will initially start by outsourcing thence fully fledged local manufacturing.

The trade and foreign investment minister said enhanced bilateral relations between Turkey and Somaliland plus the imminent establishment of Government to Government economic development support as well as private Turkish investment have necessitated the opening of a Turkish Consulate Office in Hargeisa and Somaliland Liaison Office in Turkey.

The government of Turkey which is host to talks between Somaliland and Somaliland that resume on the 8th November 2013 agreed to exchange consulate level diplomats with Somaliland during the just concluded official visit by President Ahmed Mahmud Silanyo.

On the proposed establishment of a Foreign Investment Agency by the Trade ministry and geared towards facilitating ease of foreign investment in the country, Dr Omar said that it shall be launched as soon as the ministry’s consultants finish establishing policies and structures.

The interview with the Minister of Trade and Foreign Investment was conducting electronically since he is on official duties abroad.

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