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Somaliland offers investors chance to make history

Published on June 29, 2017 by   ·   No Comments
(Financial Times – London)   Somaliland’s story is unfamiliar to many in the global investment community. We are often confused with our war-torn neighbour to the south, Somalia, from whom we separated and asserted our independence 26 years ago, in 1991, following years of violence orchestrated from Mogadishu by the repressive Siad Barre regime. By contrast, Somaliland is highly stable and democratic. We have our own fully functioning government with a presidential system; regular, free and fair elections; our own currency, the Somaliland shilling; our own, independent judicial system; and a constitution that guarantees the rule of law. Somaliland has a dynamic and youthful population; 70 per cent of the people are under 30 years old and well educated: there are more than 30 colleges and universities, public and private, which produce thousands of highly employable graduates every year.
 Somaliland hit the international business pages recently thanks to a $442m landmark investment from DP World — the largest in our history — which will see the Port of Berbera (set in a bustling coastal town, north east of Hargeisa, Somaliland’s capital) redeveloped and expanded to provide an alternative shipping and trading hub in the Horn. The port will have access to the maritime highways that connect Europe, Asia, the Middle East and Africa and will firmly establish Somaliland as a gateway to east Africa and the continent beyond.  DP World joins an increasing number of multinational companies viewing Somaliland as a secure and stable location through which to access the east African market, including Coca-Cola, which has partnered with a local business to open a $17m bottling plant outside Hargeisa, employing 100 local people. There are two flights every day between Addis Ababa and Hargeisa, bringing business people from across the world to Somaliland.

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