Despite the fact that Somalia has experienced a variety of situations over the past 31 years, including civil wars, famine, and international terrorism that has established a base there, it is evident that the country has started down the road to recovery state.
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.
This article was written by H.E. Mohamed Abdullahi Ahmed, the Ambassador of Federal Republic of Somalia to Serbia.