Somalia and Sudan are set to hold their first investment forum in Mogadishu on March 19 to 20, 2023. The event, organized by the Somalia Investment Promotion Office, the Somalia Embassy in Khartoum, and the Sudan Embassy in Mogadishu, aims to promote investments in key sectors of the Somali economy, such as agribusiness, construction, trade, services, and mining. It will see several topics exploring potential business opportunities and investment partnerships in Somalia and Sudan, tabled for discussion.
It is expected to attract around 100 Somali and Sudanese investors, business associations, and development partners. The event will witness the signing of a Memorandum of Understanding (MOU) between the Somali Ministry of Planning, Investment, and Economic Development and the Sudanese Ministry of Investment and International Cooperation. Moreover, another MOU is expected to be signed, establishing the Joint Somalia-Sudan Business and Investment Council.
Gracing the occasion will be several leaders, including Mohamud A. Sheikh Farah (Beenebeene), Minister of Planning, Investment, and Economic Development, Ahlam Madani Mahdi, Minister of Investment and International Cooperation of the Republic of Sudan (MIIC), and Hon. Jibril Abdirashid Haji Abdi, Minister of Commerce and Industry.
Somalia and Sudan have a long history of cooperation in various fields. In 2018, the two countries signed an agreement to strengthen cooperation. They pledged to collaborate in promoting the growth and development of pilot projects and initiatives in irrigation, agriculture, and industry. Additionally, Sudan has been offering scholarships to Somali students dating as far back as the 1990s.
In that same brotherly spirit, President Mohamud received a Sudanese delegation led by Brigadier General Ibrahim Jabir in November 2022. Jabir who was representing Sudan’s President, General Abdel Fattah al Burhan, praised the government for the bold steps taken in the liberation of the country from Al-Shabaab. On his end, President Mohamud thanked Sudan for its unwavering assistance in various fields, including education and rebuilding of the army.
Consequently, this Somalia-Sudanese Investment Forum will serve to further cement the relationship between the two countries and provide opportunities for mutual economic growth.
