The National Economic Forum Conference 2022 which lasted for three days in Hargeisa, attended by more than 300 government officials, businessmen, various international and local organizations, educationists, diverse experts and economists issued a statement containing a twenty-point resolution.
The Economic Forum issued this press release:
The forum would like to thank all the stakeholders and experts who participated in the forum.
The forum resolves on the adaptions of the following points:
- To increase agricultural production by giving the greatest importance and priority to the availability of water, quality bees, and pesticides to fight agricultural pests in the friendly
- To create a National Research Center that conducts significant studies on the economic partners of the country.
- Adapting to climate change and recurring droughts, and creating parks and dams.
- That the Ministries in line with production sectors in the country increase the budget for projects related to the development of production.
- To develop the skills and knowledge of the youth, and to strengthen the education of skilled handicrafts and technology.
- To complete the policies and regulations related to insurance and finance for business development.
- Developing public awareness of insurance related issues.
- Special attention should be paid to small/medium businesses during tough economic situations and when entering into international and local agreements.
- Having enough affordable, reliable domestic energy.
- To work together to explore the country’s mineral resources, fish, livestock, and fish, and export them.
11. The forum has realized the importance of Somaliland’s location, therefore, it calls for the economic strengthening of trade and services.
12. The forum calls for the development of economic infrastructure such as roads, energy, communication and ports, and airports in the country.
13. The forum calls for the implementation of the partnership agreement between the international community and the government of Somaliland (Somaliland Partnership Agreement).
14. That all the development projects of the government and stakeholders should be based on the National Development Plan
15. To conduct a thorough research on the areas and investment opportunities in the country, and to create industrial zones in all the regions.
16. To unify the investor registration system, and review the registration fees.
17. To expand access to financial services in the community, through regulatory reform, use of technology and development of public awareness and knowledge of financial services.
18. The Forum underlined the creation of a cooperative system with the Central Bank of the Republic of Somaliland, the Somaliland Private Bank Association and other stakeholders in the financial community to create access to credit guarantees for small and medium businesses on a priority basis. Special attention is given to young men and women who come up with entrepreneurship.
19. To develop skills in technology, which creates job opportunities, to boost the country’s economy, which can facilitate investment in technology.
20. Finally, the forum proposes to maintain the Economic Forum at the national level, and appoint a joint committee to implement the recommendations of this meeting.