SHOTLIST: Somalia holds first-ever International Investment Conference in Mogadishu

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DATELINE: 28, 29 NOVEMBER 2022, MOGADISHU, SOMALIA

SHOT LIST:
1. Wide shot – The President of Somalia, Hassan Sheikh Mohamud and other officials of
the Federal Government of Somalia, standing as the Somalia national anthem plays
during the opening of the Somali International Investment Conference in Mogadishu.
2. Wide shot – Invited guests standing as the Somalia national anthem plays during the
opening of the Somali International Investment Conference in Mogadishu.
3. Med shot – The President of Somalia, Hassan Sheikh Mohamud and other officials of the
Federal Government of Somalia, resume their seats during the opening of the Somali
International Investment Conference in Mogadishu.
4. Med shot – The President of Somalia, Hassan Sheikh Mohamud and other officials of the
Federal Government of Somalia, seated during the opening of the Somali International
Investment Conference in Mogadishu.
5. Close up shot – The President of Somalia, Hassan Sheikh Mohamud listening to
proceedings during the opening of the Somali International Investment Conference in
Mogadishu.
6. Close up shot – The Deputy Special Representative of the UN Secretary-General to
Somalia, Adam Abdelmoula listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
7. Close up shot – A guest listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
8. SOUNDBITE: (ENGLISH) President of Somalia, Hassan Sheikh Mohamud
“The world has been supporting Somalia in the last three decades in terms of
humanitarian (assistance). Here today, in front of you, I am appealing to the world at
large, help Somalia in investment so that Somalia will be free from the scourge of
poverty which cascades a lot of other problems, among them extremism. Having a good
 economy, reducing the poverty level is the ultimate goal of the Somali people and
Somali government in the path of reaching a prosperous country.”

9. Close up shot – A guest listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
10. Close up shot – The President of Somalia, Hassan Sheikh Mohamud listening to
proceedings during the opening of the Somali International Investment Conference in
Mogadishu.
11. Wide shot – Guests listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
12. SOUNDBITE: (ENGLISH) President of Somalia, Hassan Sheikh Mohamud
“I cannot overstate the importance of Foreign Direct Investment (FDI) in Somalia’s
economic growth strategy. FDI creates jobs, increases the country’s exports, and widens
the tax base and revenue for the State.”

13. Wide shot – Guests listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
14. Med shot – Guests listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
15. Close up shot – A guest listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
16. SOUNDBITE: (ENGLISH) The Deputy Special Representative of the UN Secretary-
General to Somalia, Adam Abdelmoula
“Somalia has a vast potential for investment which needs to be leveraged and built upon
for political stability and the rule of law. The efforts to improve the business
environment will require simpler business formation and registration processes and a
more streamlined licensing system. Government leadership and collaboration with the
private sector is fundamental and crucial. We believe that together with its partners,
including the United Nations, Somalia will be able to leapfrog to a brighter future very
soon.”

17. Med shot – Guests listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
18. Med shot – Guests listening to proceedings during the opening of the Somali
International Investment Conference in Mogadishu.
19. Med shot – The President of Somalia, Hassan Sheikh Mohamud and other officials of the
Federal Government of Somalia, leaving the venue at the end of the opening of the
Somali International Investment Conference in Mogadishu.
20. Wide shot – The Prime Minister of Somalia, Hamza Abdi Barre and other officials arriving
at the closing session of the Somali International Investment Conference in Mogadishu.
21. Med shot – The Prime Minister of Somalia, Hamza Abdi Barre and other officials
attending the closing session of the Somali International Investment Conference in
Mogadishu.
22. Close up shot – The Prime Minister of Somalia, Hamza Abdi Barre attending the closing
session of the Somali International Investment Conference in Mogadishu.
23. SOUNDBITE: Prime Minister of Somalia, Hamza Abdi Barre
“We have established the requisite legal and institutional arrangements to serve you
better. The Federal Republic of Somalia enacted and passed the Foreign Investment Law
in 2015 and established the Foreign Investment Board as the highest investment policy-
making body in the country. This law guarantees that the treatment of foreign investors
is equal to that given to domestic investors.”
24. Wide shot – Officials in a panel discussion during the closing session of the Somali
International Investment Conference in Mogadishu.
25. Close up shot – A guest listening to proceedings during the closing session of the Somali
International Investment Conference in Mogadishu.
26. Med shot – The Prime Minister of Somalia, Hamza Abdi Barre and other officials
attending the closing session of the Somali International Investment Conference in
Mogadishu.
27. SOUNDBITE: SOUNDBITE: Director of the Somalia Investment Promotion Office in the
Ministry of Planning, Investment and Economic Development of the Federal
Government of Somalia, Mohamed Dubo
“There is a growing need for countries in the region and for Somalia to revisit our
traditional value propositions and respond to changing and global demands while
maintaining the course of our economic development agenda.”

28. Wide shot – Officials in a panel discussion during the closing session of the Somali
International Investment Conference in Mogadishu.
29. Close up shot – A guest listening to proceedings during the closing session of the Somali
International Investment Conference in Mogadishu.
30. Med shot – Guests listening to proceedings during the closing session of the Somali
International Investment Conference in Mogadishu.
31. Wide shot – The Prime Minister of Somalia, Hamza Abdi Barre and other officials leaving
the venue at the end of the Somali International Investment Conference in Mogadishu.
Somalia holds first-ever International Investment Conference in Mogadishu

Mogadishu, 29  November 2022 – Leaders of the Federal Government of Somalia, its
international partners and a cross-section of Somalis gathered in the capital on Monday and
Tuesday for the country’s first-ever International Investment Conference–an opportunity for
the world to appreciate the progress being made by Somalia on the political and economic
front.

“The world has been supporting Somalia in the last three decades in terms of humanitarian
(assistance). Here today, in front of you, I am appealing to the world at large, help Somalia in
investment so that Somalia will be free from the scourge of poverty which cascades a lot of
other problems, among them extremism,” said Somalia’s President Hassan Sheikh Mohamud in
his remarks at the two-day event’s opening.

“Having a good economy, reducing the poverty level is the ultimate goal of the Somali people
and Somali government in the path of reaching a prosperous country.  I cannot overstate the
importance of Foreign Direct Investment (FDI) in Somalia’s economic growth strategy. FDI
creates jobs, increases the country’s exports, and widens the tax base and revenue for the
State,” he added.

President Mohamud highlighted the efforts of  his government to create a favourable
investment environment to attract foreign direct investment through constitutional governance
and stability based on the rule of law and democracy as the country rebuilds after years of
conflict.

Held under the theme: ‘Unlocking Sectoral Investments to Accelerate Economic Growth,’ the
conference is organised by the Federal Ministry of Planning, Investment and Economic
Development, in partnership with the private sector and development partners and is
supported by the United Nations in Somalia.

Potential for investment 

In his remarks at the opening day of the conference, the Deputy Special Representative of the
UN Secretary-General to Somalia, Resident and Humanitarian Coordinator, Adam Abdelmoula,
noted that the investment conference was in line with the objectives of the UN in Somalia to
achieve the Sustainable Development Goals Agenda 2030, and was aligned with the Sustainable
Development cooperation framework between the UN and Somalia (2021-2025).

“Somalia has a vast potential for investment which needs to be leveraged and built upon for
political stability and the rule of law,’  the deputy UN envoy said. “Efforts to improve the
business environment will require simpler business formation and registration processes and a
more streamlined licensing system. Government leadership and collaboration with the private
sector is fundamental and crucial. We believe that together with its partners, including the
United Nations, Somalia will be able to leapfrog to a brighter future very soon.”
The 2030 Agenda for Sustainable Development provides a blueprint for peace and prosperity
for people and the planet, aims to end poverty in all forms, improve food security, achieve
gender equality, and empower women and girls, leaving no one behind. Aside from restoring
and promoting sustainable use of terrestrial ecosystems, it also aims to combat desertification,
stop land degradation, and conserve biodiversity.

Economic revival
The United States Ambassador to Somalia, Larry E. André Jr., who was one of the keynote
speakers during the opening of the conference, expressed confidence in Somalia’s full
economic revival and noted that the United States supports the partnership between Somalia
and international financial institutions.

In recent years, Somalia has normalised its relations with the International Monetary Fund, the
World Bank and other international financial institutions after 30 years outside the
international
financial system.

The US Ambassador said that ongoing reforms to have Somalia qualify for debt relief through
the Highly Indebted Poor Countries (HIPC) Initiative, will ensure the flow of significant resources
to support reconstruction efforts. He added that progress on financial management reforms
including anti-money laundering and counter-terrorist financing will lead to more direct
international banking and the removal of impediments to the receipt of remittances

With peace and stability returning to Somalia, the country is starting to enjoy international
banking and financial services that can link the country to global financial networks for ease of
doing business, and also support the growth of local industries.

The Somali diaspora continues to play an important role in providing much needed financial
remittances, which are key to  boosting economic growth in the trade, hospitality, banking,
fishing and real estate sectors.

In the recent past, Somalia has focused on improving infrastructure, regulating import and
export standards, accession to international and regional trade mechanisms such as the World
Trade Organisation, and the African Continental Free Trade Area (AfCFTA).

The gathering heard that Somalia’s strategic location with the longest coastline in Africa for
trade and market access and its endowed natural resources makes the country a prime
investment destination with opportunities in priority sectors of energy, ICT, banking and
finance, fisheries and agri-business.

In his address at the closing day of the conference, the Prime Minister of Somalia, Hamza Abdi
Barre expressed the government’s commitment to implement legislative, economic and
security reforms to enhance the ease of doing business and create a favourable investment
climate.
“We have established the requisite legal and institutional arrangements to serve you better.
The Federal Republic of Somalia enacted and passed the Foreign Investment Law in 2015 and
established the Foreign Investment Board as the highest investment policy-making body in the
country. This law guarantees that the treatment of foreign investors is equal to that given to
domestic investors,” remarked Prime Minister Hamza.

At the end of the conference, the Director of the Somalia Investment Promotion Office in the
Ministry of Planning, Investment and Economic Development of the Federal Government of
Somalia, Mohamed Dubo, noted that the conference had achieved its intended objective to
showcase investment opportunities in Somalia which, if actualised, would boost FDI inflow into
the country.

“There is a growing need for countries in the region and for Somalia to revisit our traditional
value propositions and respond to changing and global demands while maintaining the course
of our economic development agenda,” said Dubo.

ENDS