Somalia President outlines his vision for growth

The Somali nation and I thank the world for their sustained support over the past few years. As things have got steadily better, you have worked with us to build on that confidence and maintain the momentum.

We appreciate the support of the G8, and the international support confirmed during the Somalia Conference in London in May. We hope this will develop through the New Deal process and the donor Conference in Brussels in September.

We have made considerable progress over the past year on security sector reform, political issues, and rebuilding state institutions. But I am not under any illusion about the challenges that remain. This is a job in progress but with much still to do.

My priority now is to agree an inclusive political settlement on the federal framework for all Somalia; this will include agreement on power and resource sharing between the federal government and the regions.

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We are building strong public financial management systems, in particular increasing transparency and strengthening our controls over revenue collection, allocation of budgets, and expenditure of public money.

Investors are starting to return to Somalia, having witnessed the progress being made. Somalia has significant natural resources  and we have already started talking to a number of exploration companies.

In order to manage this sector and to make sure that all Somali people benefit most from Somalia’s hydrocarbons, we are developing the right strategy and regulatory foundation, that leads us towards greater investor confidence and long-term growth.

We also request debt clearance as the crucial next step to receiving the loans that free us to accelerate governance and institution building initiatives. We appreciate the early work undertaken by the World Bank, African Development Bank, and the IMF to re-engage with Somalia and look forward to their further collaboration as we demonstrate progress on our financial management reform plan.

My vision is for a Federal Somalia at peace with itself and its neighbours and which poses no threat to the world; with a resurgent economy, thriving business ventures and sustainable employment so that families are provided for; a Somalia that respects human rights, all underpinned by an education system that harnesses our intellectual spirit.

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In my view, security first; justice and good governance second; investment, trade and jobs third.

It is the aspiration of every Somali to have legitimate means to put food on their family’s table and bring up their children in a peaceful, secure environment.

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Somali growth