Somalia seeks investment to drive sustainable economic growth

MOGADISHU, Somalia — Somali President Hassan Sheikh Mohamud on Saturday opened a development investment conference in Mogadishu, calling for greater investment to help the country move from recovery toward sustainable economic growth.

The conference, hosted by the Somalia Development and Reconstruction Bank (SDRB), brought together government officials, business leaders, private-sector executives and development partners to discuss investment opportunities and financing needs in the country.

Discussions focused on ways to mobilise development financing and strengthen investment as Somalia seeks to move beyond its long recovery from decades of conflict and economic disruption.

President Hassan Sheikh said his government was prioritising sustainable development investment, increasing domestic production and strengthening the role of the private sector in creating jobs and supporting long-term economic growth.

He also highlighted Somalia’s National Vision 2060 as a long-term framework for achieving sustained economic development and a growing economy.

The president said achieving the vision would require strategic investment in key sectors, including agriculture, livestock, fisheries, energy, infrastructure and private businesses.

The conference comes as Somalia seeks to expand economic activity and attract greater domestic and international investment, with the government positioning private-sector development and productive industries as key components of its longer-term economic strategy.