The Republic of Somaliland, is located in a prime geopolitical location thus allowing the country to have viable opportunities for investment. After declaring independence on May 18, 1991, post-conflict Somaliland’s government established the beginnings of a democratic, multiparty system where opposition and ruling parties compete freely – in one man, one vote elections - to rule the country. Undertaking universally agreed upon principles such as upholding human rights; freedom of speech; freedom of the press; free market and trade, the Republic of Somaliland is a peaceful and progressive country in a region known for conflict, terrorism and instability.
The backbone and the source of wealth of Somaliland’s economy is livestock. About 65% of the population depends either directly or indirectly on livestock and livestock products for their livelihood. Crop husbandry provides subsistence for about 20% of the country’s population. With a goal to boost and promote economic prosperity in the country, the Republic of Somaliland has initiated major steps to attract both national and foreign investors over the years. Among the high number of investors currently operating and developing Somaliland, the most significant foreign investment has been the $442 million agreement made with the Dubai-owned international ports manager, DP World to expand the Berbera Port. For a 30-year concession to operate the port, DP World is also building a 250-kilometer dual carriageway connecting Berbera Port to Ethiopia which will turn the country into a major regional trading epicenter. With this comes many investing opportunities in Somaliland. Over the years, Somaliland has extended its economic engagement with foreign investors within the region and beyond. Today, hundreds of foreign investor companies operate in Somaliland investing in agriculture, education, telecommunications, and energy.
In addition to Somaliland’s rapidly developing economic potential, regulatory reforms, and structures aimed to foster investor confidence in all sectors of Somaliland’s economy have also been established by the Somaliland government. However, even with all of this, Somaliland has a long way to go. With untapped natural resources like minerals, fishery and mining, Somaliland has yet to contribute to the regional, continental and global export market. Even though Somaliland still lacks international recognition, its 30 years of peace, stability and free market makes the country the ideal location for foreign investors to establish a foundation in the rapidly developing Horn of Africa.
For more infromation on Investing in Somaliland please visit Minister of Investment and Industrial Development