3rd Somalia London conference


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The London Somalia conference discussed on Somalia economic recovery, creating employment, youth and women empowerment, eliminating poverty, security and measures to deal with famine in the country.
The support of the humanitarian aid in the country was also discussed as the major live line for Somalia.
The public and private sectors where also discussed.







SOMALIA’S GOVERNMENT AND PRIVATE SECTOR AGREE ON METHODS TO ACCELERATE ECONOMIC RECOVERY

LONDON, May 10, 2017

Federal Government of Somalia together with Somali business leaders participated in a High-Level Forum on economic recovery and Public Private Dialogue (PPD) with senior Somali stakeholders.

The High-Level Forum, named “Accelerating Somalia’s Economic Recovery”, was hosted by the U.K. Government and acts as a precursor for the main London Somalia Conference on the following day.

The objective of the High-Level Forum was to reach agreements between the Somali Government, Somali private sector,diaspora and international development partners on a set of priority reforms and enabling actions that will accelerate Somalia’s economic recovery.

“The Government needs to provide the right governance environment for the private sector to grow, and provide jobs to our people. In turn, we invite the private sector to support Government efforts to regulate and tax fairly, and to work with us to grow their sectors”, said H.E. Mohamed Abdullahi Mohamed “Farmaajo”, President of Somalia.

The President of Somalia, Somalia’s Minister of Commerce and Industry, the U.K. Secretary of State for International Development, and senior officials from the World Bank, USAID, DANIDA, UN and other development partners were among the attendants. The Somali Chamber of Commerce and Industry and the vibrant Somali private sector were also well represented.

The High-Level Forum is the result of PPDs that have previously taken place in Mogadishu, Garowe, Hargeisa, Nairobi and London since June 2016. The Somali Government and the Private Sector jointly agreed, through the Public Private Cooperation Declaration, to initially cooperate in a set of economic priorities to unlock growth in strategic sectors. This includes infrastructure, ICT, innovative finance, agribusiness and renewable energy.

“The Government affirms its responsibility to develop and strengthen regulatory frameworks and policies, in consultation with the private sector, to enable private sector led economic recovery that benefits all Somalis. The Private Sector will actively engage with the government to progressively establish a modern business environment based on rule of law and a fair, predictable and competitive taxation system”, said Mohamed Abdullahi Abdi “Martello”, Spokesperson for the Somali Chamber of Commerce and Industry.

As a result of this discussion, the Government and Private sector committed to :

=Establishing a mechanism of biannual review by the President of the Republic of Somalia.

=Operationalizing the implementation and coordination structures and processes, including a PPD focal point in
the government and the private sector secretariat housed at the Somalia Chamber of Commerce and Industries.

=Establishing relevant working groups which are inclusive and action-oriented to work on areas highlighted in this declaration.