Dubai is set to host Somalia’s Second Investment Summit (SIS) scheduled for April 6th-7th 2014.
According to reports, Somalia Economic Forum will host this year’s event, which is expected to highlight the abundant opportunities and exciting possibility of rebuilding Somalia.
The Government of Somalia has repeatedly reiterated its commitment to collaborate with investors, industry partners, international and national organizations.
The Somali Economic Forum (SEF), an autonomous organization, is a platform that discusses national fiscal development of Somalia. According to reports, this forum has evolved dynamically to mirror the varying financial landscape in the region and country. Observers say the SEF has become the most significant, recurring financial congress in the nation.
Moreover, this forum has supposedly become indispensable as a means to study regional economics, integrating the latest developments and events shaping the business sector and assembling leading finance and banking executives as well as field experts and investors.
More than 250 leaders from the private and public sector, global investors and business experts are expected to converge in Dubai with the aim of discussing opportunities and forging strategic partnerships.
Furthermore, business and political leaders are expected to discuss methods of ensuring Somalia transforms its financial growth into actual prosperity.
The Summit is also expected to draw international and regional decision makers, global business community, and the media. Last year, Nairobi hosted the first SIS at the Intercontinental Hotel from July 11th -12th.
During this event, approximately 250 leading diplomats, diaspora activists, and representatives of the Somali government discussed ways of moving past Somalia’s complex security and political problems to tackling long-term economic and social problems.
The SEF hosted this year’s event in an endeavor to help change the perception of the African country from an intractable disaster to being a site of financial opportunities in various sectors ranging from tourism to agriculture.
During last year’s event, Dr. Hawa Abdi, a globally renowned activist from Mogadishu, underscored the significance of concentrating on long-term economic, social, and environmental challenges as well as the transformational role that investment could play in helping to construct the major infrastructure the war-torn country desperately requires.
This year’s summit will reportedly provide a platform for global leaders from the private sector that have successfully invested in Somalia and are currently operating in different regions, to gather.
Observers and investors assert that this is the ideal time to invest in restructuring Somalia’s economy in order to make the private sector forthcoming.
Critics also add that rebuilding the Somali state will not only foster financial growth but also verify vast effective and profitable markets.
The 2014 Summit is also expected to instigate vital dialogue on the present financial and developmental growth and trends in the energy, oil & gas, telecommunications, finance & banking, and agribusiness sectors.
Economists argue that Somalia has the features to become a dynamic and regional financial powerhouse because of its strategic location and potential reserves of natural resources.
Meanwhile, the host of the summit is confident that the SIS will serve as an enriching and dynamic platform, permitting investors to collaborate with industry leaders to offer sustainable and mutually advantageous investments.
Photo: Somalia Investment Summit 2013