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Somali PM Holds Meeting With Mogadishu Traders

The Prime Minister of Somalia, Hassan Ali Kheyre had met with the members of Somali chamber of commerce in his office on Saturday night.

Accompanied by the minister for trade and industrialization, Mohamed Abdi Mareye, the two sides discussed the ongoing efforts by the Prime Minister Kheyre government to attract multinational corporations to invest in the country and the vital role of local business community in improving the economy.

The premier said his government would give priorities to safeguard the interest of the Somali business establishments by putting in place strong laws.

“It is our responsibility to safeguard the business interest of our businessmen,” PM said, adding “We are working to establish laws that protect their business.”

The economic development is the critical agenda for President Mohamed Abdullahi Farmaajo’s administration.

The International Monetary Fund (IMF) report last year projected Somalia’s economy to grow and recover.

The World Bank has approved $80 million in grants to Somali government last year to fund public finance reforms, marking the first disbursement to the country in 30 years.

Its board had approved financing of $60 million for the Recurrent Cost and Reform Financing Project and $20 million for the Domestic Revenue and Public Financial Management Capacity Strengthening Project.