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Somalia: Puntland President opens investment forum in Garowe

By Staff reporter , Garowe Online

GAROWE, Puntland – The President of Somalia’s northeastern Puntland State, His Excellency President Said Abdullahi Deni on Sunday officially opened an investment conference in Garowe city, Garowe Online reports.

In his speech, Deni said the three-day forum which brings together International and local Investors aims to attract more investment in Puntland to avoid relying on aid agencies and to gain economic growth in the oil-rich region.

The Investment Expo gives a platform leading International and Somali/Puntland decision-makers, business leaders, investors, and entrepreneurs to discuss and transact on bankable investment opportunities in Puntland.

During the conference dubbed “Expand your Business, Invest in Puntland”, the Government says it will showcase many investment opportunities in Livestock, Fishing, Agriculture, Manufacturing, Mining, Energy and Tourism.

"I thank all participants for accepting our Invitation; I also thank the organizers and all sponsors of Puntland Investment Forum,” said President Deni during his opening address to the participants.

The President requested all banks to reduce the interest rates as much as possible so that the youth can get Investment from banks which will create opportunities for many people in Puntland and entire Somalia.

"My Government has set up the Investment policy which will enable you to Invest in Puntland in any sector and anywhere you interest,” Deni added.

The President pledged that Puntland will eliminate the remaining Al-Shabaab extremists in the state, and encouraged business people to invest in the region which enjoyed peace and stability for the past 20 years.

The director of Somalia’s Chamber of Commerce Abdikakim Gabeyre said Puntland state can play it is role to make investment and development at the right time as the businessmen have saved the country during the war.

European Union Ambassador to Somalia, Nicolas Berlanga, and other foreign officials were among the distinguished guests attending Puntland Investment Forum Exhibition that will run for 15th, 16th and 17th September.

The General Manager of Toyota, Jim Finch who delivered a speech at the annual Puntland Investment Forum sai: “Toyota will open a branch in Garowe city soon, whereby we believe we can get manpower in the region."


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