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Somalia is promoting investment opportunities in the country to discerning investors from all over the world at a summit being held. The two-day Investment Summit is attended by the Somali government, international partners, local entrepreneurs, and a large number of foreign firms
Somalia is promoting investment opportunities in the country to discerning investors from all over the world at a summit being held. The two-day Investment Summit is attended by the Somali government, international partners, local entrepreneurs, and a large number of foreign firms.
Inaugurating the summit, Somalia’s Prime Minister Hamza Abdi Bare said that the event was a declaration of the country to chart a new development process and an invitation to global investors to be a part of the country’s development process. His views were echoed by the UN Secretary-General’s Deputy Special Representative for Somalia, George Conway. He said the event would trigger economic growth for the country in the long term and would create jobs and economic opportunities.
Somalia’s Deputy Prime Minister Salah Jama, and the Italian Ambassador to Somalia, Alberto Vecchi, also attended the event. Somalia has immense economic potential from its agricultural and aquaculture sectors. But insecurity and other challenges are affecting the growth prospects. The World Bank estimates that its Gross Domestic Product is forecast to rebound to 2.8 percent this year and increase to 3.7 percent next year.
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https://trendsnafrica.com/premier-bank-of-somalia-to-acquire-a-controlling-stake-in-fcb/
The event was attended by representatives of the Government of Italy, the Somali Chamber of Commerce and Industry, IBS Bank, the European Union Delegation to Somalia and the UN Development Programme (UNDP).
