Somali President Urges For Investments In Agricultural Sector To Boost Economy

2024-10-02 06:00:15

(MENAFN- IANS) Mogadishu, Oct 2 (IANS) Somali President Hassan Sheikh Mohamud opened the First International Conference on Agri-Value Chain Investments in the country to help boost the agricultural sector, the backbone of the economy.

The Ministry of Agriculture and Irrigation organised the two-day conference to promote partnerships, investment, and sustainable growth in Somalia's agriculture industry, Xinhua news agency reported.

The conference brought together international investors, the business community, donors, and agricultural experts who are exploring sustainable agri-investment opportunities and fostering robust partnerships.

In the opening remarks, President Mohamud underscored the opportunities within Somalia's agricultural sector, noting that the country is strategically positioned for growth and is ready to welcome global partnerships that will drive prosperity.

"Somalia is open for business, and our agricultural sector is ripe for investment. With over 3,300 km of coastline and a strategic location on major global shipping routes, we offer unparalleled access to international markets," he told participants in Mogadishu, the capital of Somalia. "Our young, dynamic population, with over 70 per cent under the age of 30, is eager to embrace innovation. Together, we can transform this potential into prosperity, benefiting both our nation and the world."

The president also highlighted Somalia's commitment to improving agricultural infrastructure, promoting private sector engagement, and fostering innovation across the entire value chain. He invited investors to be part of Somalia's agricultural revolution, emphasising the country's fertile lands, diverse climate, and potential for crops such as sesame, bananas, and mangoes.

Mohamud told participants of the government's plans to ensure that Somalia is suitable for investments, which he said is the basis of the eradication of terrorists, the development of laws and governance, the building of economic infrastructure, and being part of the markets and international business associations.

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