Alamein, Egypt (AX) — Somali President Hassan Sheikh Mohamud urged African business leaders, international companies and investors to consider opportunities in Somalia, saying the country is rebuilding its economy and looking for productive partnerships.
He made the appeal Saturday at the Alamein-Africa Business Forum in Alamein, Egypt, where heads of state, ministers, business executives, investors and representatives of financial institutions from across the continent gathered.
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“Somalia is not merely a country recovering from conflict; it is a nation rebuilding and reforming its economy,” Hassan Sheikh said. “We are open to trade and investment, and we welcome anyone ready to partner with us in this rebuilding process.”
The president used his address to examine shifts in the global economic and political landscape while underscoring the need for greater African cooperation and economic integration.
He called on African nations to make fuller use of their natural resources, human capital and investment potential to drive growth and development.
Hassan Sheikh said productive investment would be critical to creating jobs, expanding Somalia’s economy and supporting sustainable development.
He added that Africa’s economic prospects rely on closer cooperation, higher investment, wider trade, stronger infrastructure and more integrated markets across the continent.
The Alamein Africa Forum began Friday in New Alamein, a city on Egypt’s northern coast, with about 1,500 officials, business leaders, investors and financial institution representatives in attendance.
The three-day gathering features high-level discussions on economic development and continental integration.
Delegates are also addressing major obstacles confronting Africa, including limited access to financing, infrastructure shortfalls, elevated capital costs, weak connections between markets and barriers that continue to hamper intra-African trade and investment.
