On October 7, 2026, Somalia's Prime Minister Xamsa Cabdi Barre attended the closing ceremony of the EU-Somalia Business Forum 2026, a two-day event held in Mogadishu. The forum brought together development partners, financial institutions, and private sector stakeholders from Somalia and European countries to discuss investment opportunities and economic cooperation. The Prime Minister emphasized Somalia's readiness for foreign investment, citing the country's strategic location and improved security situation.
Prime Minister Xamsa Cabdi Barre stated that Somalia is open to investment in its strategic resources, with the government having made significant progress in security and institutional reform. He invited potential investors to take advantage of the country's opportunities, assuring them of a safe and stable environment. The Prime Minister highlighted Somalia's natural resources, including its longest coastline in Africa, mineral deposits, livestock, and vast agricultural land.
The Prime Minister noted that his government has made significant strides in security and institutional reform, creating an enabling environment for investment. He mentioned that new laws have been enacted to establish a secure and reliable economic system, leading to self-sufficiency for the Somali people. The government has prioritized economic development and infrastructure growth.
Somalia's Prime Minister identified various sectors with potential for investment, including agriculture, mining, and infrastructure development. He expressed his gratitude to the European Union for their role in supporting Somalia's development and their willingness to invest in various sectors. The Prime Minister encouraged European investors to explore opportunities in Somalia.
The EU-Somalia Business Forum provided a platform for Somali and European businesses to network and explore partnerships. The event aimed to promote economic cooperation and investment in Somalia, which has faced significant development challenges due to conflict and instability. The forum's outcomes are expected to contribute to Somalia's economic growth and development.
Prime Minister Xamsa Cabdi Barre's call for investment reflects Somalia's efforts to rebuild its economy and attract foreign investment. The country's improved security situation and institutional reforms have created a more favorable business environment. Somalia's participation in international business forums like the EU-Somalia Business Forum demonstrates its commitment to engaging with the global business community.
The closing ceremony of the EU-Somalia Business Forum marked a significant milestone in Somalia's efforts to promote economic development and attract investment. The event's success is expected to lead to increased economic cooperation between Somalia and European countries, ultimately contributing to the country's growth and development.
Key points
- Somalia's Prime Minister Xamsa Cabdi Barre calls for foreign investment in the country's strategic resources.
