Somaliland has development aspirations to develop the livelihood of its citizens via economic and social development endeavor. This development initiative requires financing through various financial instruments both local and external. Somaliland currently faces development financing gap of around $250 million a year to develop essential infrastructure pillars such as roads, bridges and essential buildings.
Thus, the onus of filing this financing gap was with the current government and it has secured $442 million external investment from DP World to develop Berbera port.DP world is among the worldโs largest ports operators, managing marine and inland terminals across six continents.
Similarly, UAE and Somaliland government have signed this week an historical bilateral agreement. The UAE will establish a military base in Berbera. Somaliland will get in return an investment in essential infrastructures such as theย economic ย and trade nerve road โBerbera to Wajaleโ, new state of the art Airportย in Berbera, New water dams, Water wells, Hospitals and Schools in total costing 2 Billion USD.
To the surprise of every one, Waddani opposition party party opposed DP Worldย ย concession agreement to invest Berbera Port and promised to cancel the agreement if they win the upcoming presidential vote. They have staged demonstrations in London in collaboration with Mogadishu government protesting various UAE investments in Somaliland. This is undeniable evidence on Wadaniโs anti development, anti investment and anti business development policies. Opposing Somaliland development is tantamount to gross enmity against Somaliland citizens and their sovereignty.
Waddani opposition party candidate Mr. Abdirahman Irro has ignored and did not give any effort during his 12 years tenure as the speaker of the House of Representatives all the business and investment related bills brought in front of the house. Such important bills were included Company law, Investment law, Taxation law,Procuremnt law, Financial accountability law, Audit law, Commercial banking law and Anti money laundering law. This clearly shows how he is againest in improving the business climate in Somaliland and attracting foreign direct investment into the country.
By: Mohamed Dahir Ahmed