Somalia is seeking to attract international investment in its natural resources and key economic sectors, Prime Minister Hamza Abdi Barre said as he closed a two-day business forum with the European Union in Mogadishu. The forum brought together development partners, financial institutions, and private-sector representatives from Somalia and European countries. Barre highlighted the country's potential for economic growth and its readiness to partner with investors.
The EU-Somalia Business Forum 2026 aimed to discuss investment opportunities and ways to expand economic cooperation between Somalia and the European Union. Barre emphasized Somalia's strategic geographic position, natural resources, and improving security environment as attractive features for investors. He expressed his government's commitment to creating a secure and reliable economic environment capable of supporting greater investment.
Barre noted that his government had made progress in strengthening security and reforming state institutions, while shifting its focus toward economic development and expanding infrastructure. The government has introduced laws and regulations to establish a stable economic environment. These efforts aim to help Somali communities achieve greater economic self-reliance and support the country's economic growth.
Somalia's extensive coastline, mineral resources, livestock sector, and large areas of agricultural land were highlighted as areas with significant investment potential. Barre encouraged European investors to explore these opportunities and consider partnering with Somali businesses. The government is seeking to create conditions for different forms of investment and promote stronger partnerships between Somali and European companies.
The forum provided an opportunity for government officials, investors, and financial institutions to discuss Somalia's economic prospects and potential areas for cooperation with the European Union. The government has increasingly sought to attract private investment as Somalia works to strengthen its economy, develop infrastructure, and reduce its reliance on international assistance.
Barre extended a warm welcome to investors, stating that Somalia is ready to partner with those who want to benefit from the country's opportunities. He emphasized that investors should be prepared to support Somalia's security and national unity. The government's efforts to attract investment are part of its broader strategy to drive economic growth and development.
The EU-Somalia Business Forum 2026 reflects Somalia's growing efforts to engage with international investors and promote economic cooperation. By highlighting its investment potential and commitment to creating a secure economic environment, Somalia aims to establish itself as an attractive destination for European investors.
Key points
- Somalia's Prime Minister Hamza Abdi Barre urges European investors to explore the country's natural resources and key economic sectors.
- The EU-Somalia Business Forum 2026 aims to discuss investment opportunities and expand economic cooperation between Somalia and the European Union.
- Somalia highlights its extensive coastline, mineral resources, livestock sector, and agricultural land as areas with significant investment potential.
