The Puntland Investment Forum will be held at East Africa University in Garowe, Puntland, Somalia from September 15-17, 2019. The forum aims to attract foreign direct investment(FDI) and domestic investors by presenting business opportunities and partnerships with the national private sectors.
Visit the official site here:
https://puntlandinvestment.com
The full document summarizing investment opportunities in Puntland can be found here:
https://puntlandinvestment.com/s/investment-opportunities-1.pdf
Livestock
The people of Puntland are blessed with vast natural resources of which livestock and fisheries are the backbone of the economy. Major destinations for the livestock exported from the Puntland state government are Yemen, Oman, Libya, United Arab Emirate, Kuwait, and Egypt. These two commodities form the basis of practically all trade and business activities, export and import.
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Investment opportunities in Animals sector
Fishing- Extensive ranging
- Tanning hides and skins
- Animal feeds processing
- Feedlot finishing/fatting farms and fodder production
- Livestock ships
- Slaughter houses with proper international standard and design for export fresh and chilled Meat processing
- Dairy farm
- Poultry farm
- Milk processing factory
- Beekeeping farms
- New export market like Egypt, Malaysia and Turkey
The coastline of the of Puntland State of somalia is approximately 1,600km extending from Gara’ad on the Indian Ocean side, to Laaso Surad on the Gulf of Aden. The waters of which incidentally constitute the richest fish habitats in the region. Fish is second to livestock in terms of foreign exchange earner in Puntland.
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The shark fishing industry is the mainstay of the artisan fishing community in Puntland and more than 90% of the fishing fleet hunts for sharks for their valuable fins. In Bossaso and nearby fishing zones a sizeable yield of sea cucumbers reaching several tonnes per year is harvested. Furthermore, edible crabs and shrimps are caught in Bossaso and some of it are locally consumed and the surplus exported to Middle East. Large populations of shark and ray are also registered. Shark fin is the most valuable Sea food products exported by the fish industry and it generates over one million US Dollar foreign exchange earner annually in Puntland. Major importers of the shark fins from Puntland are Dubai, Honk Kong, and Singapore.
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Investment opportunities in Fisheries sub sector
Agriculture- Rehabilitation of the existing fishing fleet;
- Addition of more boats to the existing fleet;
- Fish processing and canning factory
- Provision of sufficient fishing gear and accessories;
- Improvement of fish handling and processing facilities and techniques;
- Improvement of market outlets both internally and externally;
- Promoting research activities and training of personnel;
- Cold storage/refrigeration facilities
Puntland agriculture sector has made headway since 1998 when Puntland State administration for formed, farmers for progress made in agricultural productivity in Puntland. Major progress in agriculture in Puntland has been made since 1992. Displaced people have introduced growing of vegetable and fruits. Vegetable and fruits such as papaya, salad, carrots, tomato , lemon, and cucumber consumed in Puntland grow in local farms. There are crops we have in common the rest of Somalia , and crops such as coffee and garlic that grow in Puntland, Ministry of agriculture has conducted a feasibility study through which it found out perceptions about Puntland agriculture. Some people thought Puntland depends only on livestock. We changed this perception. What was missing is help for farmers. We have devised an action plan to assess needs of farmers. We found out farmers need training in modern methods of farming. Some farmers went to farming for financial reasons without the proper skills. We bought materials such as tractors and Lorries for farmers to distribute their produce. One of the Puntland’s plans is to increase production of dates to build on the modern method of growing dates which produces 80 kg of dates from one tree and in lesser time compared to dates from old method of growing dates, which produced 5 kg from one tree and took longer time to grow.
Investment opportunities in Agriculture sector
Frankincense (maydiga)- Crops grown under irrigated farming include Vegetable and fruits such as papaya, salad, tomatoes, onions, lettuce, spinach, capsicums, carrots, okra, cowpeas, watermelon, lemon, and cucumber.
- Sorghum, millet, maize, sim sim (sesame) and several types of fruit trees.
- Crops such as coffee and garlic that grow in Puntland,
- Dates x Yi’ib (yicib)
In this production sector, there is no organized formal labor market in Puntland. However, production systems exist as under:
• Members of the plantation (owning family) who cultivate and harvest on a rotating basis (GAAFEYSI) and,
• Individuals who pay rent (CAWAAJI) to the owning family and collect the production for the entire season.
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Regarding the yield, estimates show that approximately 40% of the commodity is harvested, which is roughly 500 metric tonnes per year. But last estimation Traders estimate that today’s annual frankincense se exports (75 percent Maydi and 25 percent Beeyo) total about 400 tons (covering exports from Bosasso and other coastal parts in northeast Somalia).
This frankincense species is found only on the steep vertical slopes of coastal Northern Somalia. Similar to other frankincense trees, Boswellia frereana favors soil rich in limestone and thrives in a hot climate, but unlike other species it requires good access to water and rainfall. Attempts have been made to introduce the species to Kenya and Southern Yemen with little success. Maydi is sorted in eight grades consisting of mushaad, mujarwal, fas kebir (kabeer), fas saghir (saqeer), jabaanjib, shorta, slif and foox in order from best quality to least. The top four grades have exclusively been exported to Saudi Arabia for chewing gum and the remaining grades are exported to China for use in medicine and France, Germany and England for use as incense in religious ceremonies. The Frankincense has different kinds and different levels and each level have especially price.
Manufacturing.
Puntland has got limited manufacturing activities, however various opportunities exist Ilotango Company processes a variety of beverage items as well as plastic bags. Other manufacturing activities can play a more conducive role in the production of economic activity and opportunities in Puntland such as:
- leather processing
- fishery canning plants
- Water purification
- Milk processing
- Plastic Recycling Machine
- Meat and fish tanning
- Cement factory
Tourism
The Golis Mountain chain running along the Gulf of Aden and the Indian Ocean is attractive and favorable for eco-tourism purposes. Tourist destinations include a variety of archeological sites, underground pyramids and underground tunnels as well as natural & human made caves enriched with historical data of civilization events and ancient kingdoms. Investment opportunities in Tourism sector are:
- Building of hotels
- Processing of food crops
- Improvement of national parks
- Development of beaches and beach hotels and restaurants
- Building of airports
- Constructing different infrastructures
Gemstone and gold mining activities are being carried out in the mountain areas of Puntland by several local businesses that tend to use simple manual equipment. While these businesses frequently obtain and produce marketable products of various precious stones and gold sands, there is ample opportunity for further investment and expansion of capacity. Puntland also exhibits many positive indicators for the presence of hydrocarbons
Investment opportunities in Mining and Energy Sector
- Exploration of hydrocarbons and petroleum
- Solar energy generation
- Transformer and electric cabling manufacturing
- Supply and installations
- Wind power generation
- Provision of equipment and building materials
- Provision of low cost housing for urban areas
- Provision of mortgage finance
- Construction of residential estates
- Construction of apartments and other premise
Investment Opportunities in Education Sector
- Technical or vocational institutions
- Pre- primary, primary and secondary schools
- Setting up private universities and colleges
- Boarding schools
- Provision of food to schools
Investment Opportunities in Health Sector
- Setting up more new hospitals
- Setting up diagnostic centres
- Setting up more casualty centres
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