Somalia's Immense Economic Potential, Highlighted at Mogadishu Conference

Somalia’s immense economic potential, highlighted at Mogadishu
conference
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LANGUAGE: ENGLISH/SOMALI/NATURAL SOUND
DATELINE: 30 MAY 2023 - MOGADISHU, SOMALIA
SHOT LIST:
1. Wide shot – Guests arriving at the venue for the Somalia Economic Conference in
Mogadishu.
2. Med shot – Guests arriving at the venue.
3. Close up – Organisers sorting out tags to be issued to invited guests.
4. Med shot – Organisers sorting out tags to be issued to invited guests.
5. Wide shot – Guests follow proceedings.
6. Med shot – The UN Secretary-General's Deputy Special Representative for Somalia and UN
Resident and Humanitarian Coordinator for Somalia, George Conway, and other guests
follow proceedings.
7. Close up – The Prime Minister of Somalia, Hamza Abdi Barre, follows proceedings.
8. SOUNDBITE: Hamza Abdi Barre, Prime Minister of Somalia

“The Somalia Economic Conference marks a pivotal moment in our nation’s history. It is a
declaration of our commitment to chart a new course towards economic prosperity and a
brighter future for all Somalis. We invite you to join us on this transformative journey to
invest in Somalia, and to partner with our private sector.”
9. Wide shot – UN Deputy Special Representative Conway and other guests at the conference.
10. Med shot – Invited guests at the conference.
11. Close up – An invited guest at the conference.
12. SOUNDBITE: Hamza Abdi Barre, Prime Minister of Somalia

“To our international partners, I urge you to see beyond the challenges that Somalia has
faced in the past. Look at the immense opportunities that await you here. Invest in our
industries, transfer your technology and expertise, and be a catalyst for change.”
13. Wide shot – Prime Minister Barre, UN Deputy Special Representative Conway and other
guests at the conference.
14. Med shot – Deputy Special Representative Conway and other guests at the conference.
15. Close up – A guest at the conference.
16. Close up – A guest reading a press package.
17. SOUNDBITE: George Conway, UN Secretary-General's Deputy Special Representative for

Somalia
“I look forward to seeing tangible results from this conference especially new business
partnerships that will help trigger economic growth for the country in the long term that
will create jobs and economic opportunities, and which will improve social economic
conditions for all Somali people.”
18. Wide shot – The representative in Somalia of the United Nations Industrial Development
Organization (UNIDO), Ygor Scarcia, delivering a presentation during the conference.
19. Med shot – UNIDO Representative Scarcia delivering a presentation during the conference.
20. Wide shot – Guests at the conference.
21. Med shot – Guests at the conference.
22. Close up – Guests at the conference.
23. SOUNDBITE: Beger Gunther, Managing Director, UNIDO Directorate for SDG Innovation
and Economic Transformation
“Somalia is rapidly re-emerging as an economic actor of critical and strategical relevance in
the Horn of Africa region. Its private sector, despite all odds, has been adaptive resilient
over the years to the numerous internal and external shocks the country has to endure.”
24. Wide shot – Panelists at the conference.

25. Med shot – Panelists at the conference.
26. Close up – A panelist at the conference.
27. Wide shot – Panelists at the conference.
28. Med shot – Panelists at the conference.
29. Close up – A guest at the conference.
30. Wide shot – Journalists cover proceedings at the conference.
31. Med shot – A journalist covers proceedings at the conference.
32. Close up – A journalist covers proceedings at the conference.
33. SOUNDBITE: Shukri Mohamed Sheikh Bashir, Businesswoman

“This conference is very important for my business because it has given me an opportunity
to meet many clients from within Somalia and even Italian investors as well as others from
the region. I am glad I attended this event; it has been an eye opener for me.”
34. Wide shot – Entrepreneurs showcase their products at the conference.
35. Med shot – Entrepreneurs showcase their products at the conference.
36. Close up – Entrepreneurs showcase their products at the conference.
37. Wide shot – Entrepreneurs showcase their products at the conference.
40. SOUNDBITE: Deqa Mohamed Salah, Businesswoman

“Somalia is ready for business. We have oil, a long untapped coastline full of fish and arable
land around two rivers. We are telling the world welcome, come and invest in Somalia. We
are ready to do business with the world.”
41. Wide shot – An entrepreneur showcases her products at the conference.

42. Med shot – An entrepreneur showcases her products at the conference.
Somalia’s immense economic potential, highlighted at Mogadishu conference
Mogadishu, 31 May 2023 – Somalia’s economic potential has been under the spotlight for the
past two days at a gathering of Somali government, international partners, local entrepreneurs
and foreign firms, with a goal of highlighting opportunities for business with international
companies.
“The Somalia Economic Conference marks a pivotal moment in our nation’s history. It is a
declaration of our commitment to chart a new course towards economic prosperity and a
brighter future for all Somalis – we invite you to join us on this transformative journey to invest
in Somalia and to partner with our private sector,” the country’s Prime Minister Hamza Abdi
Bare said at the opening on Tuesday.
“To our international partners, I urge you to see beyond the challenges that Somalia has faced
in the past,” he added. “Look at the immense opportunities that await you here. Invest in our
industries, transfer your technology and expertise, and be a catalyst for change.”
His views were echoed by the UN Secretary-General’s Deputy Special Representative for
Somalia, George Conway.
“I look forward to seeing tangible results from this conference, especially new business
partnerships that will help trigger economic growth for the country in the long term, that will
create jobs and economic opportunities, and which will improve socio-economic conditions for
all Somali people,” Mr. Conway, who also serves as the UN Resident Coordinator and
Humanitarian Coordinator for Somalia, said at the event’s first day.
Others in attendance included Somalia’s Deputy Prime Minister Salah Jama, and the Italian
Ambassador to Somalia, Alberto Vecchi, in addition to representatives from Somali businesses
and business associations.
Somalia is widely considered to have immense economic potential from its agricultural and
aquaculture sectors, but with insecurity and other challenges, such as the humanitarian crisis
stemming from the climate crisis, hampering efforts to achieve this potential. According to the
World Bank, its Gross Domestic Product is forecast to rebound to 2.8 per cent this year and
increase to 3.7 per cent next year.
The Somali Economic Conference was organized by the Federal Government of Somalia’s
Ministry of Commerce and Industry and the UN Industrial Development Organization (UNIDO).
The event was financed by the Italian Agency for Development Cooperation (AICS) as part of its
efforts to increase economic opportunities and job creation in Somalia through the creation of
synergies between the Somali and the Italian private sectors.
“Italian enterprises are recognized as central actors in the Italian system of development
cooperation and play an increasingly important role in the effectiveness of AICS’ interventions.
Our approach is to promote actions that can effectively lead to co-development and mutual
benefits, such as the event we are witnessing today,” the head of AICS’ regional office in
Nairobi, Guiseppe Grandi, told the gathering.
Also involved in the gathering were elements of the Government of Italy, the Somali Chamber
of Commerce and Industry, IBS Bank, the European Union Delegation to Somalia and the UN
Development Programme (UNDP).
International partnerships
UNIDO has been working extensively with Somalia’s private sector, primarily with developing
local businesses and seeking international partnerships. It has noted that the private sector –
which has had to face the hardships of insecurity, climate shocks and the COVID-19 pandemic –
needs to be better networked with international businesses for its long-term growth.
In his remarks at the event on Tuesday, the Managing Director of UNIDO’s Directorate for SDG
Innovation and Economic Transformation, Berger Gunther, expressed hope Somali
entrepreneurs will take advantage of the conference and the foreign investors from Italy
present to strike new business partnerships.
“Somalia is rapidly re-emerging as an economic actor of critical and strategical relevance in the
Horn of Africa region. Its private sector, despite all odds, has been adaptive resilient over the
years to the numerous internal and external shocks the country has had to endure,” Mr.
Gunther said in a video message.
He added that the time had come to expose Somalia’s private sector markets as a destination
for business trade and investment, noting that “events like the one we are opening today
should definitely contribute to this objective.”
A key aspect of the UN’s support for the development of Somalia’s economic potential has
been the Productive Sectors Development Programme (PSDP), a UN flagship programme –
implemented by UNIDO together with the UN Food and Agriculture Organization (FAO) and the
UN International Labour Organization (ILO) – to support sustainable development through
partnerships between government and the private sector.
The PSDP also involves Somalia’s Ministries of Commerce and Industry; Agriculture and
Irrigation; Fisheries and Marine Resources; Livestock, Forestry and Range; Labour and Social
Affairs at both the federal level and their counterparts at the Federal Member State level.
“Somalia is increasingly focusing on the so-called ‘triple nexus,’ linking humanitarian assistance,
development priorities and peacebuilding efforts. With improved political and economic
stability, we can increase momentum towards comprehensive long-term solutions to build
Somalia’s resilience,” Mr. Conway said in his remarks.
“Initiatives like this conference, and programs like the PDSP, have contributed to a paradigm
shift towards longer-term sustainable development solutions, where the private sector clearly
has a critical role to play. This includes through promoting entrepreneurship, supporting micro-,
medium- and small- enterprises, facilitating access to finance, and unlocking investments.”
Local responses
The sentiments expressed by guest speakers at the event were echoed among the hundreds of
attendees from Somalia’s business sector, with many of them highlighting the need for help to
modernize the country’s technologies in important sectors with huge growth potential, such as
construction, fisheries, livestock and agriculture.
“Somalia is ready for business. We have oil, a long untapped coastline full of fish, and arable
land. The world is welcome to invest in Somalia,” said Deqa Mohamed Salah, an entrepreneur
who runs a cosmetics business.
“This conference is very important for my business because it has given me an opportunity to
meet many clients from Somalia and outside the country – I am glad I attended this event,” said
Shukri Mohamed Bashir, another entrepreneur.
The Somalia Economic Conference included hosting the 2nd Italy-Somalia Business and Trade
Forum on Tuesday, and the 1st Somalia Private Sector Partnership Meet today.
*End*

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Somalia’s immense economic potential, highlighted at Mogadishu

8. SOUNDBITE: Hamza Abdi Barre, Prime Minister of Somalia

12. SOUNDBITE: Hamza Abdi Barre, Prime Minister of Somalia

17. SOUNDBITE: George Conway, UN Secretary-General's Deputy Special Representative for

24. Wide shot – Panelists at the conference.

33. SOUNDBITE: Shukri Mohamed Sheikh Bashir, Businesswoman

40. SOUNDBITE: Deqa Mohamed Salah, Businesswoman

41. Wide shot – An entrepreneur showcases her products at the conference.

Somalia’s immense economic potential, highlighted at Mogadishu conference

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