Qatar Business Association engages in discussions with Somali PM to discuss potential investments in agriculture and livestock industries
On Thursday, September 7, 2023, Somalia’s Prime Minister, Hamza Abdi Barre, met with officials from the Qatari Businessmen Association (QBA) in Doha and urged Qatar to invest in Somalia’s agriculture, fisheries, and livestock industries. The QBA Chairman, HE Sheikh Faisal bin Qassim al-Thani, warmly received Barre and his delegation, with Somalia’s Minister of Finance, Bihi Iman Aji, Minister of Foreign Affairs and International Co-operation, Absher Omar Jama, Minister of Internal Security, Mohamed Sheikh Ali, and Ambassador Ron Saeed Qarsheen in attendance.
During the meeting, discussions revolved around potential investments in Somalia’s agriculture, commercial, real estate, and industrial sectors, all of which are open to public or private investment. With over 300 million consumers in the East African market, Somalia aims to attract Qatari investors to foster development and provide employment opportunities for its youth.
Barre highlighted the strong relations between Qatar and Somalia and praised Qatar’s contributions to Somali economic and investment institutions. He expressed his optimism for enhanced cooperation in the future.
Barre emphasized Somalia’s significant resources, including a livestock population exceeding 40 million heads of cattle, over 8.5 million hectares of fertile land, and a vast coastline stretching 3,700 kilometers with abundant fish stocks. All these resources present lucrative investment opportunities for Qatar.
Barre also pointed out the curious situation of Somalia importing milk and dairy products despite its substantial livestock sector. This highlights the need for food factories, particularly in the dairy industry.
Sheikh Faisal highlighted the historically strong relations between Qatar and Somalia, built upon mutual respect, common understanding, and collaboration. He stressed that the success of initial investors would pave the way for others.
Sheikh Faisal also welcomed Barre’s invitation to visit Mogadishu and explore investment prospects in real estate, insurance, tourism, agriculture, and other economic sectors.