Somaliland minster of investment and industrial development Abdirahman Abdilahi Aareh
In Pursuit of actualizing the Somaliland vision 2030 the government has put several mechanisms in place.
This Include assurance of prevalent peace and security in the country in addition to development of various acts guiding the numerous Pillars in the strategic plan.
The Somaliland National Vision 2030: a road map for the long term development envisaging “A Stable, Democratic and Prosperous Country where people enjoy a high quality of life”
The national development strategic plan which is currently under Implementation has stipulations pertinent to various sectors.
In the economic Pillar of the strategic plan is the foundation on which Somaliland economic prosperity rests upon.
The Pillar envisages a nation Whose Citizens Enjoy Sustained Economic Growth and Reduced Poverty Levels.
To make this Pillar a constitutional dictate the Ministry of investment and industrial development-MOI&ID completed preparation of the Somaliland Public private partnership act for approval by Parliament.
This was revealed by the MOI&ID Minister Abdirahman Abdilahi Aareh in Hargeisa where he further stated that the promulgation of the act will facilitate fast tracking the realization of the Somaliland vision 2030 economic Pillar.
“The Public private act will not only legalize but facilitate fast tracking of the vision’s economic Pillar” said investment and industrial development minister Abdirahman Aareh
In this Pillar the government aims to double household disposal income every ten years and quadruple it by 2030. This will be achieved by:
• Pursuing macroeconomic policies that promote accelerated growth, employment creation and poverty reduction;
• Adopting policies that achieve price stability and low inflation;
• Implementing trade and investment policies that promote production and employment;
• Prioritizing public spending for vital services such as health, education and water;
• Establishing properly regulated financial services available to primary producers, industrialists, traders and households;
• Transforming agricultural production by investing in research and extension;
• Developing a fair broad based tax system to raise the necessary resources for public investment; and Engaging the Diaspora and the private sector
The seven priority sectors identified as critical to the economic development agenda. Include:
• Agriculture and livelihoods (including, livestock and fisheries),
• Trade and financial services,
• Private sector Investment and the
According to minister Abdirahman Aareh the has, I and shall continue to provide Private Sector Investment and Support in order for Somaliland to create a well developed private sector that provides investment, employment, sustained livelihoods and vital services to strengthen the economic foundation of peace.
To fully achieve the economic Pillar and other in the Somaliland vision 2030 the prevailing peaceful and stable environment is critical to the development of the private sector.
However, the cost of doing business in the country is relatively high. Neither start-ups nor established businesses have access to regular banking facilities. Necessary legislative frameworks for licensing and supervising banks need to be developed.
To achieve the goals of the 2030 vision in its entirety, the government is determined to maintain and invigorate peace and stability, encourage private sector investment, introduce the necessary financial services acts, promote corporate culture and facilitate company formation.
“Thus the imperatives of the Public Private Sectors act partnership” says the Somaliland minster of investment and industrial development Abdirahman Abdilahi Aareh.
What drove the desire for the vision as explained by the Ministry of planning and national development reads
Quote- In the last 20 years, Somaliland has made remarkable progress in all spheres – political, economic and social.
This coming fro the chaos of the 1990s in which her cities were left in ruins; educational system barely existed; health care system did not function, and government structures were destroyed.
Since then Somaliland has and single handed rebuilt cities; restored order; established a democratic state; thence today can boast of having more than 600,000 students in primary and secondary schools; There are sixteen Universities graduating thousands of young professionals – doctors, engineers, accountants, lawyers etc, in addition to the existence of at least a health post in almost every district.
Nevertheless the 3 decades self governing but yet to be recognized internationally has had arduous challenges ahead, as a nation.
There is a fast growing young population, more than half of the labor force is idle; most of citizens are illiterate; in addition to the rapidly degrading environment; growing of little of the food consumed not to mention the still unacceptably high child and maternal mortality rates.
On the other hand there are enormous potential of this nation: it has vast untapped mineral wealth, huge marine resources, sufficient land to quadruple food production, and most of all an exceptionally enterprising people.
In view of these challenges and opportunities, it became important to develop a vision that embodies this aspirations and subsequent guides in realizing the potential.
Thus the Somaliland National Vision 2030: a road map for the long term development envisaging “A Stable, Democratic and Prosperous Country where people enjoy a high quality of life”
In order to achieve the goals of the 2030 vision, the government is determined to maintain and invigorate peace and stability, encourage private sector growth through partnership with the public sector.