Archive for the ‘News’ Category

Groundwork laid for DP World to invest in Somaliland’s Berbera port

Posted on: July 13th, 2016 by chamber

President Ahmed Mohamed Mahamoud (left) and Sultan Ahmed Bin Sulayem

 

 

 

 

 

 

 

 

 President Ahmed Mohamed Mahamoud (left) and DP World Chairman and CEO Sultan Ahmed Bin Sulayem.

DP World and Somaliland have agreed to a framework in which the global terminal operator will invest $442 million into the port of Berbera under a joint venture, a move that would round out its regional network as part of a $1.2 billion global expansion effort.

The agreement is a part of a larger push by DP World to bolster its Africa and Middle East regional network, which includes the Doraleh terminal in neighboring Djibouti, its Jebel Ali flagship in Dubai and operations in Senegal, Egypt, Mozambique and Algeria. Over the last five years the company has added over 2 million twenty-foot-equivalent units in capacity at its African terminals and invested $1 billion.

“We’re going to make Berbera a gateway for the Horn of Africa,” Berbera port director Ali Mohamed said. “In a year, we will be able to process 200,000 containers — Berbera is as strategic as Djibouti.”

On the Gulf of Aden’s southern coast, Berbera sits at the entrance to the Red Sea and the route to the Suez Canal, the crossroads for cargo shipped between Asia, the Arabian Peninsula and Europe.

Berbera is primarily used to export sheep and camels to Arab Gulf nations and handles around 40,000 containers per year. DP World will deliver tugs, gantry cranes and high-tech container storage systems as well as other port equipment.

“These are the basics of any modern port, but saying that we will modernize the port, and equip it with all it takes to make it a hub, doesn’t mean that we have plans for other infrastructure,” a DP World spokesperson said.

Under the “term sheet” signed by the government of Somaliland and DP World, $442 million will be invested for the development of the port of Berbera and Horn of Africa trade. The term sheet signed by the government of Somaliland and DP World serves as a template to develop more detailed legal documents and the parties will draw up a formal contract once details are finalized.

“This agreement is to set up a joint venture company to invest in and manage the port of Berbera to enable it to achieve its potential for becoming a regional trade and logistics hub. The $442M project will be phased over time and is dependent on the volumes generated at the port,” the DP World spokesperson said.

The agreement helps to legitimize Somaliland in the international community as it has been an unrecognized country despite 25 years of de facto independence from Somalia. The agreement is the largest in the territory’s history and a vote of confidence in Somaliland’s ability to maintain peace and stability within its borders.

The port will be critical to landlocked countries in the region, and the agreement also calls for the establishment of a free trade zone, DP World said.

“I am very bullish about Africa and I believe it still has a very huge potential,” chief executive officer of DP World Sultan Ahmed Bin Sulayem said. “The Horn of Africa has been a trading partner of Dubai throughout history and this agreement builds on the traditional strong ties between the Somaliland community and the UAE — many dhows along the Dubai Creek still follow the routes of their ancestors to the ports of Somaliland and East Africa.”

Somaliland Traders decry high Port Taxations

Posted on: January 18th, 2016 by chamber

Somaliland Chamber  of Commerce – The Chairman of Somaliland Chamber of Commerce Mr. Mohammed Shukri Jama met with a group of top traders who import goods and were bitterly complaining about the high taxation at Berbera port.
The Chairman told the media that they have discussed much about the high tax on which the entrepreneurs decried while arguing that they will not be able to sell since the community will avoid buying due to their exorbitance.

 

He promised that he would take the issue with proper authorities.

Visiting of Turkish Business Delegates at Somaliland

Posted on: January 18th, 2015 by chamber

Visiting of Turkish Business delegates at Somaliland

The Somaliland Chamber of Commerce and Turkish delegates  meeting was convened from the 11thJanuary, 2015 at the Somaliland Chamber of Commerce Headquarter. The meeting was attended by delegates from Turkish Business Community, Somaliland Vice Minister of Trade and Investment, Business community especially those import goods from Turkey, and  Members of the chamber.

The Agenda was to create Somaliland-Turkish Trade Relationship and Trust Building between the Two Countries.

The meeting was chaired by the Chairman of the Chamber Mr. Mohamed Shukri Jama.

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Welcoming Statement by the Chairman of the chamber:

In his welcoming remarks, Mr. Mohamed Shukri, The Chairman of the Chamber, on behalf of Somaliland Chamber of Commerce, Industry and Agriculture, welcomed the delegation, and emphasized the special   relationship between Turkish government and Somaliland .

The chairman reported that the people of Somaliland are interesting to have close relationship with Turkish people.

In 2013, during his stay at Turkey, The chairman said that he will never forget the hospitality of the Turkish people and how they welcomed and one good turn deserves another.

The chairman expressed as a businessman, he himself imports goods such as iron bars from Turkey and emphasized importance of Somaliland-Turkish Trade Relationship.The Chamber of Commerce understands and appreciates the importance of such Meeting.

As Chamber, Our vision is to Strive new bonds of commercial and investment cooperation between Somaliland’s business community and rest of the world. but The main obstacle to major foreign direct investment has been the ignorance on the part of potential investors about Somaliland’s well-established peace and stability as well as its economic potentials. However, Somaliland is signaling to all potential investors that it is “open for business,” having progressed from a post-conflict situation to a state of political stability and sustainable economic development. Underpinned by this transformation, Somaliland is now firmly in a period where it is able to encourage foreign investment.

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Turkish Delegates Statement:

The delegation talked about that Somaliland locates a strategic place, where Turkish Government plans to make a hub of East Africa Countries.

They emphasized to establish Electric Companies such as Solar Farms, and would take part Construction Business, because they have experienced man power and Technical know-how.

The delegates reiterated the potential Sectors of the country, And they are eager to provide Training’s, Technical-know and Consultancy. And need to know more about the Somaliland people such as their culture, Needs and so on.

They mentioned that they want to establish big Business projects and will bring as much products from Turkey with quality wise.

They are planning to set-up Communication Office at Somaliland, Hargeisa.

Conclusions:

The Chairman concluded the Meeting and talked about that the Establishment of the Chamber of commerce goes back to 25the Oct 1993 under public law No: 35. As an independent entity owned by Somaliland business community, And That the chamber offers guidance and assistance to the Somaliland business community and the investors as well through providing market information and organizing fair shows events and also trade directory annually. We protect for our members their names and brands.

The organizational chart of the Chamber is, the General Assembly at the top, board of directors, Executive committee including chairman, two vice chairman, another four members and Secretary General.

We divide our members into five sectors depends on their categories and we have representatives in the main regions.

 

Turkey Sawir 2

 

 

 

 

 

 

 

 

Prepared by

Mowlid Ahmed Abdi,

Director of Planning and Coordination,

Somaliland Chamber of Commerce.

 

 

 

 

 

Somaliland: Democratic Developments and Economic Growth Impress Denmark

Posted on: August 17th, 2014 by chamber

HARGEISA (Somalilandsun) – The governments of Denmark and Somaliland has concurred on the imperatives of enhancing existing relations between the two countries.
This development follows a meeting between President Ahmed Mahmud Silanyo and the Danish trade and development minister Mogens Jensen at the Hargeisa presidency in which the Danish team also revealed intent to support the ongoing democratization process in Somaliland.
At a post meeting press briefing at the presidency jointly conducted by the Somaliland minister of foreign affairs Mohamed Behi Yuns and Minister Mogens Jensen, the two governments’ said discussions undertaken since arrival of the broad Danish team have so far been conclusive.

President_Silanyo_of_Somaliland__recieves_Denmarks_trade_and_Dev_minister_at_the_Hargeisa_presidency

 

 

 

 

 

 

 

 

President Ahmed Mohamed Mohamoud (Silanyo)

“The government and people of Somaliland value very much the support given by the people of Denmark towards improved live hoods especially as pertains to the Somaliland Development Fund-SDF” said FM Behi Yuns adding that Somalilanders are intent on not only sustaining but enhancing on the very deep relations existing between the two nations.
Thanking the Danish minister and his delegation which is the highest and biggest o visit Somaliland from Copenhagen Minister Behi who informed that the visiting Danes who held very successful meetings with line ministries of the Danish aid also revealed that the Jensen led team has already visited a number of beneficiary sectors among them the Livestock market ad shall call at numerous others before departure.

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Denmark together with Britain and Norway are main contributors to the multi-million Somaliland Development Fund (SDF) which is geared to the provision of a single vehicle through which donors can support Somaliland’s development goals.
While Denamrk is also contributor to several other sectors directly through the government or via non governmental and international organizations the success of the World bank fronted Somaliland business Fund that supports local economic growth through grants to local entrepreneurs is attributed to the Danish contribution currently around %10m
“The government of Denmark is satisfied with the impact of its support towards development of various sectors in Somaliland and is intent on increasing its contribution in the coming years” said the Danish Trade and development minister Mogens Jensen
Thanking Somalilanders for the warm reception granted his team which includes senior government officials and several Copenhagen based journalists Minister Jensen said that his meetings with president Silanyo and other government officials were very conclusive and shed more on the avenues for enhanced cooperation.

Some_of_the_visitng_Danish_government_officlas_and_Copenhagen_based_journalists_at_the_Somaliland_presidency

 

 

 

 

 

Some
of the visitng Danish government officlas and Copenhagen based journalists at
the Somaliland presidency

“We discussed further issues as pertains to making Somaliland a better
place for its people to live in as part of continued cooperation in the long
standing partnership between our countries” said Jensen

Acknowledging that the contribution of Denmark has achieved meaningful impacts
in the creation of sustainable livelihoods for Somalilanders Mogens Jensen
revealed that his country intent on creating jobs locally and developing
economic growth shall increase its interventions in various sectors like
Agriculture ,Fishing and Vocational training among others/

While thanking Somaliland for continued advancements of Gender issues minister
Jensen also noted the stand taken by Somaliland towards eliminating Female
Genital Mutilation-FGM, specifically congratulating first lady Amina Mohamed
Jirde “Amina Weris’ for having signed the country’s commitment during the
Girl Summit 2014 in London.

On the imperatives of establishing a stable democracy with growth and jobs for
its people the Danish minister who not only acknowledged success but numerous
challenges urged the authorities to the pursuit of assured Human rights as well
as freedom of expression and of journalists.

As for the presidential and parliamentary elections slated for mid-2015 in
which minister Mogens Jensen who informed that the government of Somaliland has
assured him that they shall be held on time also said a voter register was very
important for free and fair elections thus urged for an expedited registration
exercise in which his country shall support

House Meeting

 

 

 

 

 

 

 

Somaliland VP Abdirahman Sayli and president Silanyo C chairing the meeting between
Somaliland and Denmark at the Hargeisa Presidency

Queried on his country’s stance on the sovereignty of Somaliland ad its 23
years quest or international recognition Mr. Jensen said, “Though Denmark
recognizes the achievements garnered by Somaliland its position is aligned to
that of the rest of the International community and the UN”

“We shall declare our stand to this issue during a High level ministerial
conference on Somalia to be hosted by my government in Copenhagen” said
the Danish Trade and development Minister Mogens Jensen

Listen to the Behi and Jensen press briefing mostly in the English language.

Livestock Trading in Somaliland

Posted on: November 15th, 2013 by chamber

Somaliland Delegation in Egypt

Posted on: September 8th, 2013 by chamber

 

A high delegation from Somaliland Government led by Minister of Trade and Investment Mr. Omar Shucayab accompanied with the Chairman of Somaliland Chamber of Commerce and other high ranking Officials paid high level visit to Egypt by receiving an official invitation.

 

The Egyptian Minister of Trade and Industry warmly received the delegation at Cairo International Airport. During their stay, Somaliland delegation had met with different distinguished Officials of the Egyptian government.   The delegation also met with the Federation of Egyptian industries.  During their meeting, the two side discussed commercial and investment opportunity of the two countries.

 

In additional to that, the  Chairman of Somaliland Chamber of Commerce stressed the Egyptian Officials that 30% of the pharmaceutical needs import from Egypt and the Chairman also pointed out that there is a wide investment opportunity in many sectors especially the sector of livestock.

Finally, the Minister of Trade and Investment hope that the trip to Egypt would improve the bilateral trade relationship between the two countries.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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The one day event of Somaliland/German Business Forum has concluded successfully in Berlin, Germany on 10th November, 2016.  The objective of this high ranking conference was to bring together German investors, participants of Somaliland Government officials, Entrepreneurs and the chamber of commerce working toward the essential networking platform to create a new environment of business cooperation and enhance trade and investment opportunities between the two countries.

About 27 high profiles International Companies had been attended this forum. At the same time, the parties have got an ample opportunity of B2B matchmaking to showcase their businesses and offer investors’ opportunity to get to know each other.

During the forum key sectors focused on Somaliland/German cooperation in the fields of Energy, Agriculture, Livestock, Fisheries, ICT, Tourism and Minerals resources.

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Somaliland’s virgin economy creates a new window for investors

Posted on: July 24th, 2013 by chamber

By Zamzam Abdi Karim | Photo: Kate Stanworth

Investors are coming in droves to Hargeisa for a share of Somaliland’s thriving frontier market.

A functioning central government and remarkable stability has poised Somaliland as the next investment destination for investors across the world.

With a 740KM coastline that largely lies on the Gulf of Aden, the country offers a gateway to the Horn of Africa’s rich consumer market. Its strategic position on the world’s busiest shipping lane also offers access to thriving markets in the Gulf.

Already, the stage is set for the scramble of black gold in Somaliland. Leading oil exploration firm Genel Energy was in August 2012 awarded an exploration license for onshore blocks SL-10-B and SL-13 in Toghdeer, Somaliland.

According to the Anglo-Turkish exploration firm, Somaliland is a relatively unexplored region, with few exploration wells drilled.  They estimate the total size of the oil blocks in Somaliland to the equivalent of entire Kurdistan Region of Iraq.

Initial assessment by Genel energy recorded 1 million barrels of oil in the blocks of SL-10B and SL-13.  The firm also projected a similar resource potential for Odewayne block.

“A substantial 2D seismic campaign for all the blocks will take place in 2013, with the first exploration well targeted for the second half of 2014.” reads a statement on Genel Energy website.

With the above projections, analysts expect a multiple-sector multi-billion investment in Somaliland in the coming years benefiting the Somaliland economy and its people.

Involved in the energy charge to Somaliland is Australia based oil company Jacka Resources Ltd which has a partnership with Genel Energy to unwrap the resources in the unchartered but oil rich Somaliland. Jakka has begun work with exploration date set to end in May 2015 on a $50 million contract.

Somaliland’s virgin economy creates a new window for investors

Posted on: December 6th, 2012 by admin

June 26, 2013

By Zamzam Abdi Karim | Photo: Kate Stanworth

Investors are coming in droves to Hargeisa for a share of Somaliland’s thriving frontier market.

A functioning central government and remarkable stability has poised Somaliland as the next investment destination for investors across the world.

With a 740KM coastline that largely lies on the Gulf of Aden, the country offers a gateway to the Horn of Africa’s rich consumer market. Its strategic position on the world’s busiest shipping lane also offers access to thriving markets in the Gulf.

Already, the stage is set for the scramble of black gold in Somaliland. Leading oil exploration firm Genel Energy was in August 2012 awarded an exploration license for onshore blocks SL-10-B and SL-13 in Toghdeer, Somaliland.

According to the Anglo-Turkish exploration firm, Somaliland is a relatively unexplored region, with few exploration wells drilled.  They estimate the total size of the oil blocks in Somaliland to the equivalent of entire Kurdistan Region of Iraq.

Initial assessment by Genel energy recorded 1 million barrels of oil in the blocks of SL-10B and SL-13.  The firm also projected a similar resource potential for Odewayne block.

“A substantial 2D seismic campaign for all the blocks will take place in 2013, with the first exploration well targeted for the second half of 2014.” reads a statement on Genel Energy website.

With the above projections, analysts expect a multiple-sector multi-billion investment in Somaliland in the coming years benefiting the Somaliland economy and its people.

Involved in the energy charge to Somaliland is Australia based oil company Jacka Resources Ltd which has a partnership with Genel Energy to unwrap the resources in the unchartered but oil rich Somaliland. Jakka has begun work with exploration date set to end in May 2015 on a $50 million contract.