The Minister of Petroleum and Minerals of Somalia, Dahir Shire Mohamed, has announced that the Federal Government has met with officials from the US government and investors interested in the country’s oil and mineral resources, to strengthen cooperation in exploiting the country’s natural resources.
The meeting, which took place in Mogadishu, was represented on the US side by the US Embassy in Somalia, led by the acting ambassador, Justin Devil, according to the minister.
Minister Dahir Shire said that the discussions focused on encouraging US investors to invest in Somalia, especially in the oil and mineral sectors. He indicated that both sides agreed to increase technical cooperation to facilitate the dissemination of investment opportunities in the country.
“We discussed how to jointly exploit the country’s resources and create an environment that encourages US investment in Somalia,” the minister said.
He added that it was agreed to hold other technical meetings in close collaboration with the Ministry of Petroleum and Minerals, the Ministry of Commerce, and a technical committee from the US Embassy.
According to the minister, this meeting was the first of its kind to be held in Mogadishu, and he described it as an encouragement for the Somali government’s efforts to attract foreign investment.
The minister noted that Somalia presented the status of its policies related to resource management, and preparations for the second phase of the country’s mineral and oil development.
For his part, the acting US ambassador Justin Devil expressed confidence in Somalia’s investment opportunities, although US companies make independent decisions about their investments.
Somalia has been making efforts to attract international investment in recent times, stating that progress has been made in the areas of regulation and the establishment of natural resource policies.
