The world has changed, Somalia is considered a Frontier market, where yes, the risks are high, but the profits will be higher then any other country in Africa as we literally need to rebuild everything.@Cadmus security and stability are crucial to any investment from outside which can create jobs and rapid growth.
No one will invest in a volatile country and where there is a risk of insecurity as things might erupt any moment and you loose asssets worth billions.
What keeps those prospective investors away, is the daunting thought of corruption and lack of information/access to the important ministers.
Look at South Sudan, they've received BILLIONS in investments over the past few years, because they knew how to make it easy for investors.
That's the key, making it EASY for prospective investors. No one is going to invest in Somalia if on top of the insecurity, you have to go through lower ministry employees and admin staff, corrupution, confusing etc. There's NO dedicated number for investors to contact the government, and most of the embassies don't even exist (such as UK,) and of those that exist, they don't promote investments at all. Aynte is the UK ambassador, yet he's too busy flying to America to do pointless interviews instead mingling and networking in the UK, even IF there's no embassy yet, attracting investors from the financial capital of the world should be the priority.
PM Khayre should follow the example of the Republic of Sudan when it comes to advertizing investments.
Look how easy they made it. They wrote the project, the needed investment even down to a decimal point, and A DIRECT NUMBER for serious investors. You can call that number right now and invest. That's not possible with the current Somali administration, no matter what you're offering.
PM Khayre should set up a small team of 1-2 people, to handle all proposals and phone calls in order to sift through possible proposals.
This doesn't even require much, just one email account that the team can share and monitor together, and pass the relevant info to Khayre under the penalty of corruption charges.
This Sudanese website is basic as they come, but they will create jobs because investors don't have to find a civilian to partner with. Each ministry has a dedicated number (which is monitored by the government.)
http://www.sudaninvest.org/English/Projects-Agric.htm
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Wadi El-Khoy Project for Animal Production
Name of Project:
Goat and Camel Husbandry
Location:
Northern state, Wadi El-Khoy (Dongola Province)
Background note of the Project:
Area:
Proposed area 250 thousand feddan of arable land and free of restrictions.
Irrigation:
The proposed area will be irrigated with a network of flood irrigation and to dig surface wells to provide water for man an animals.
Soil :
The project is located in a level surface plain and the soil is composed of Nilotic sedimentaries.
Nature of Project:
A new project, which obtained the approval of the competent authorities.
Project Objectives :
1- Parent production
- Male export (sheep – billy goats camels).
- Sale of improved surplus females to the local market.
3- Support of the economies of the state and provision of hard currency from the export and provision of animals for the needs of the state.
Contact Address:
Investment Department,
Northern State
Tel : 0247823994
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