Somalia’s strategic geographical location
makes it a major player in world economy, international trade, and security. Somalia
is a vast country covering over 246,000 square miles with longest coastal in
African continent. The majority of
commercial ships and vessels travelling around the world pass through Somalia’s
Indian Oceans, earning Somalia the nickname
“the world’s economic artery.” Not only is Somalia in a strategic
location but God has blessed it with natural resources. Somalia it has untapped
oil, gas, gold and many different kind of sea and land minerals. It has a huge blue
economy potential stretching from red sea to Indian Ocean.
It has more than 8 million arable lands. Of
this, less than 10% is currently cultivated. Part of the region’s cultivated
land is irrigated, while the remainder is rain-fed. These agricultural lands
produce both locally consumed staple foods and the nation’s export crops. 77%
of its population is under the age of 30. It has a business culture with groups
that are naturally supportive of the diverse and spirited population. Over 20,000 students graduated from local
universities and colleges just last year, creating a sizable educated
population that is prepared to enter the workforce.
Based on the Seismic surveys conducted by
Soma Oil & Gas company from United Kingdom of great Britain as well as
Spectrum Geo from UK Somalia has oil reserves of up to billions barrels. Report
estimate that the country has 13.9 million sheep, 13.2 million goats, 7.6
million camels, and 5.4 million cattle at the all country.
Agricultural land percentage area in Somalia
was reported at 72.54 % in 2021, according to the Government expert collection
of development indicators, compiled from officially recognized sources.
Somalia’s is a population eventually that
knows how to build survival situation from the ground up, according the
embracing technology and entrepreneurship to make progress that was never
thought possible, in a statement. However, Somalia still faces lake of
international investors focus.
The challenges that need to be addressed are
that substantial investment should be received in Somalia to overcome the
problem of unemployment and insecurity, because the unemployment rate is very
high, which forces the youth to become part of the migration and criminal
activities that cause long-term instability.
“The question is, why do the super power
states that lead the world’s economy and technology interested about the
situation in Somalia at all. Are they interested in working for you or working
with them or working for them? There is a lot”
On other side, I deeply appreciate the
resilience of the people of Somalia against instability, droughts, foreign
interference, warlords, religious groups, tribalism, NGO Pirates, selfish
cartels, mercenaries and political upheavals. But there is hope Somalia will
emerge out of all those evils.
There is a hope that the international
investors will give encouragement Somalia, there are also suggestions that the
country has surly get a market of his offshore oil reserves minimum
approximately 500 billion barrels.
By: H.E. Mohamed Abdullahi Ahmed,
Ambassador of Somalia to Serbia