Ten Sectors in Puntland to Invest In – By Abdiwali Gooni

Puntland’s political and economic environment has been consistently improving and stable since 1998. Under good leaderships, Puntland has been able to be a political stabilising force in the region, which has provided a secure environment for business to thrive.

Puntland in particular currently enjoys relative stability compared with other parts of Federal republic of Somalia. It has built up its private & Public sectors, established social services such as education, and has taken a grass-roots approach to governance. Business investments from the diaspora have also helped to build the economy.

Security of investment is also guaranteed under the Constitution of Puntland and the Investment Code 2019, as well as the major international investment related agreements / treaties to which Puntland is signatory.

On Jan 8, 2019: Puntland has elected fifth democratically elected President Dr. Said Abdullahi Mohamed (Deni) who was one of the founders of Puntland, well-known Businessman and prominent politician in Somalia.

Puntland State enjoys a unique location at the heart of Horn Africa with Longest sea of red sea and Indian Ocean, famous for Oil, gas, fisheries, agriculture, livestock, power, energy, real estate, manufacturing, financial services, and infrastucture. Puntland linked position, gives the country a strategic commanding base to be a regional hub for trade and investment.

In order to provide a conducive environment for doing business in Puntland, the government of Puntland has created a One Stop Centre for business registration and licensing at Puntland Investment Forum. PIF also assists in tax advice and registration, immigration and work permit issues, land acquisition and verification, as well as environmental compliance and approvals. Accessing all these services under one roof saves the investor both time and money to have their projects licensed and implemented expeditiously.

On 15, 16, 17 September 2019, Puntland Investment Forum will bring together leading International and Somali/Puntland decision makers, business leaders, investors, and entrepreneurs to dialogue and transact on bankable investment opportunities in Puntland State.

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