Hargeisa, Somaliland – Somaliland has rolled out the red carpet for significant Saudi investment interest, hosting two high-level delegations from the Kingdom within a single day.
The visits, targeting untapped economic sectors and reinforcing bilateral ties, culminated in a landmark meeting between President Abdirahman Mohamed Abdullahi Irro and leaders of major Saudi conglomerates.
Showcasing Untapped Potential
The day commenced with Somaliland’s Minister of Investment and Industrial Development, Mr. Said Mohamed Buraale, receiving a Saudi investment delegation.
Minister Buraale provided a comprehensive briefing, deliberately spotlighting the nation’s diverse and largely unexploited investment opportunities, with a particular emphasis on natural resources.
“Somaliland possesses significant untapped potential, especially within our natural resource sectors,” Minister Buraale stated during the meeting. “Our government is unequivocally committed to fostering an environment conducive to both domestic and foreign investment.”
The Saudi delegates expressed strong interest in the minister’s presentation. They confirmed their visit was specifically aimed at conducting an on-the-ground assessment of viable investment opportunities across Somaliland.
Presidential Engagement and Strategic Partnership
The focus then shifted to the Presidential Palace, where President Irro welcomed a prestigious seven-member delegation representing Saudi Arabia’s Al Rajhi Group and Seed Investment Group—both recognized as global leaders in developing international business and investment ventures.
Led by Sheikh Nasir Alqahdiani, General Manager of Al Rajhi Group, the delegation included key figures such as Saud Alrajhi, Dr. Mohamed Nasir Alqahdani, Dr. Abdullah Sadik (Strategic Advisor), Eng. Anter Bilaal (Head of Infrastructure Engineering), Abdulrahman Salool (Government Relations Coordinator), and Dr. Shakir Haji Hussein Noor, Executive Director of Seed Investment Group.
Discussions centered on forging a broad-based partnership for investment and development, grounded in mutual interests. The talks explored promising opportunities that require funding and expertise, spanning critical sectors such as energy, livestock, agriculture, fisheries, economic infrastructure, tourism, and financial services (including banking and insurance).
President Irro warmly welcomed the delegation, providing an overview of Somaliland’s history, governance, security, stability, and strategic location. He underscored the deep-rooted historical ties between Somaliland and Saudi Arabia.
“Somaliland is a reliable partner, both in terms of security and development,” President Irro affirmed. “My government is genuinely committed to supporting investment and business cooperation with all interested parties. We are ready to host investments beneficial to our nation, built on collaboration, mutual trust, and legal confidence.”
The president delivered a clear message of openness: “Somaliland is open for business. We are dedicated to fostering real business, development, and partnerships, particularly in enhancing economic relations with the Middle East and the Horn of Africa.”
Delegation Enthusiasm and Future Prospects
Sheikh Nasir Alqahdiani responded positively to Somaliland’s presentation and commitment. “We see Somaliland as a prime destination for investment,” he remarked, praising the nation’s economic reforms and vast potential. “Particularly in energy, agriculture, and infrastructure, the opportunities for mutually beneficial projects are substantial.”
The back-to-back meetings concluded with shared optimism. The Saudi delegations, particularly the high-powered group led by Al Rajhi and Seed Investment, are poised to conduct further evaluations, potentially paving the way for transformative investments in Somaliland.
These engagements mark a significant stride in deepening economic ties and positioning Somaliland as an emerging hub for regional investment.
