Mogadishu(Mogadishu24)-Somali Prime Minister, Hamza Abdi Barre on Wednesday inaugurated the Somalia Investment Summit, a pivotal event aimed at capitalizing on Somalia’s growing economic potential. The summit, which will be concluded today in the capital, was orchestrated by the Ministry of Planning, Investment, and Economic Development and attracted key players from across the East African region.

During the summit, attendees explored a wealth of investment opportunities within Somalia, buoyed by the nation’s recent economic milestones including achieving debt relief and joining the East African Community. Prime Minister Hamza underscored the rich natural resources available and the strides made in improving the investment climate, emphasizing legislative advancements and enhanced national security.

“This summit marks a pivotal moment for Somalia as we open our doors wider to the world of international business, ensuring that our growth is both sustainable and inclusive,” stated Prime Minister Hamza. The event highlighted sectors ripe for investment, stressing the importance of foreign capital in achieving economic self-sufficiency and generating employment.

As Somalia stabilizes and grows, it continues to attract global investors, making it an increasingly attractive destination for international business and capital investment. This summit is expected to be a cornerstone in harnessing Somalia’s economic capabilities and fostering long-term prosperity.

“At the Invest Somalia and Expo conference,I welcomed to regional, local,and international investors to discover our thriving economy and unexplored investment prospects within our nation.There are countless untapped resources and opportunities in Somalia waiting to be discovered”, Barre said.