H.E Eng. Ahmed Jama Barre, Minister for Energy and Minerals of the Republic of Somaliland by accompanied senior officials of the Ministry, embarked on a whirlwind tour of the UAE including high level investment meetings in the cities of Dubai, Abu Dhabi and Sharjah.
The engagements with investors were primarily aimed at promoting Somaliland as an emerging and attractive investment destination in the trio sectors of Energy, Mining & Minerals as well as Hydrocarbons.
H.E Eng. Barre pitched Somaliland as an emerging and attractive investment jurisdiction based on:
1. The country’s peace, security, stability over 34 years since restoring her independence and sovereignty in 1991.
2. Her unparalleled Democratic credentials with regular cyclical elections which are acknowledged as free, fair, transparent and credible with smooth transfer of power
3. Somaliland’s liberal and market- driven economy and attractive governance architecture of the sectors coupled with an attractive fiscal regime
4. The rich and diverse mineral resources and hydrocarbons potential as well as space for investments in the energy sector.
5. Somaliland’s strategic location and close proximity to the GCC markets. Somaliland as the gateway and nexus between Africa and the rest of the world bolstered by the infrastructural developments in the port of Berbera and the Berbera Road Corridor.
H.E Eng. Minister Ahmed Jama Barre, held high level discussions and engagements with among others:
Mubadala, Skyline, Masdar Tech City, and BB Energy among others.
The hon. minister showcased opportunities in these various sectors including on shore and off-shore oil blocks available for concessioning, mineral Rights concession tenement as well as opportunities to partner with government in these sectors through the National Energy Company as well as the National Mining Corporation which are on the threshold of being flagged off as investment arms of government in the energy and mining sectors.
Most of the companies engaged showed a desire and great interest in investing and partnering with Somaliland government in these sectors. Of particular interest was participation in the energy sector in generation of power, as an off-taker and in joint venturing with the government in the transmission in some form Special Purpose Vehicle (SPV) in the building of the necessary infrastructure for transmission which is now a core function of Somaliland government. Other interests include the acquisition of oil blocks under the umbrella of UAE oil and gas companies.
