Mogadishu(Mogadishu24)-The President of the Federal Government of Somalia, Hassan Sheikh Mohamud, launched Somalia’s Centennial Vision 2060 Development Process on Monday to strategize Somalia’s main progressive agendas for the next 40 years.

The two-day conference, organized by the National Economic Council, was attended by officials from the federal government, member states, and representatives from Somalia’s international partners, who are vital pillars in Somalia’s state-building efforts by providing financial and material support.

In his opening speech, the President stated that the program aims at creating a stable, inclusive, and competitive economic strategy within Somalia and beyond.

“How can we change the fate and fortunes of our future generations? What transformative strategies do we need to construct a peaceful, united, prosperous, and inclusive society with a competitive economy in the region, continent, and at the global level,” President Hassan said.

He added, “Everyone in this venue and beyond is considered an architect and stakeholder of this process that is being launched today for our common future.”

“Today, what we have is the completion of phase 1 of the Vision Development Process, a process that started and is continuing, producing a live document that will always be adjustable to address circumstances that exist in the country.

The President called on the Somali community and the leaders of the country to work for the common good so that Somalia can be respected.

“I instruct the National Economic Council to be the development of the Centennial Vision of the century and to work closely with all stakeholders, including the ministries, departments, and agencies of the Federal Republic of Somalia, the federal member states, civil society organizations, private business associations, our international partners, and all segments of our society.”

The President also instructed the Council to learn from other countries through hosting and engaging international expertise, visiting federal member states for consultations, and engaging with key national stakeholders in the country and abroad.

“This Vision in terms of the economy is based on the future of Somalia as a nation, as a country, its economy driven by the private sector,” he stated.

He reiterated the government’s commitment to creating a link between international financing institutions and both the government and private agencies to promote the economic growth of the country.

“With our international partners, mainly the IMF and the World Bank, to have access to international financing institutions. Not only the government, but we want to link our private business people, private industries to the financing institutions. It will have open and easy access to international financing institutions so that this economy becomes relevant through private-driven,” the president said.

Despite facing challenges like insecurity, Somalia has strengthened its efforts to revitalize its institutions, such as the Defense and Security, Immigration and Registrations departments, anti-corruption agencies, and the auditing and financial management systems.

Earlier this month, the federal government of Somalia launched the Social Protection System of the Unified Social Register aimed to alleviate poverty and food insecurity while enhancing resilience to disasters like droughts, floods, and locusts.

It has also digitalized government services, including launching a national identification and registration process to strengthen digital information in the country.

On Friday, Somalia was admitted as the 8th member of the East African Community at the 23rd Ordinary Summit of the EAC Heads of State held in Arusha, Tanzania.