Somaliland

Somaliland, an unrecognized country in the Horn of Africa, has built a growing and resilient economy over the past three decades. Much of this progress is the result of the private sector, which accounts for 90 percent of the economy. However, the sector is narrowly based and faces many Constraints. This publication outlines a comprehensive strategy to develop Somaliland's private sector to encourage sustained economic growth and economic transformation It Identifies the key constraints to private sector development and proposes measures to effectively address them. It also notes emerging investment opportunities and recommends measures to support interested investors and strengthen public-private collaboration. Opportunities abound in Somaliland, from the recently modernized Berbera Port and associated facilities, including Berbera airport which has one of the longest runway in Africa, to the significant fishery potential along the country's long coastline, and considerable but as of yet undeveloped mineral and hydrocarbon resources, The proposed strategy can serve as an example for other fragile post-conflict economies as well as other similar and similarly placed developing countries aiming to climb the development ladder through development of their private sectors.

This publication, which focuses on Somaliland, lays out a strategy for inclusive growth that creates jobs, reduces poverty, improves the lives and livelihoods of the population, and enhances the government's revenue base so that it can deliver basic services to the public. Based on the private sector, which accounts for 90% of Somaliland's GDP, the proposed strategy aims at just growth but also the transformation of the economic base to a diversified, highly productive one that uses technology and innovation. The comprehensive strategy for private sector development, which is outlined in this publication, will explore the nature of the impediments and constraints that the private sector faces today and will outline how to best remove them. It will also highlight the type of proactive support (beyond removing impediments) that is needed to help the sector to develop and contribute to the country's development objectives. It will attempt to identify areas for investment opportunities that are also developmentally impactful. This should be particularly useful to both foreign and domestic investors who desire to make investment decisions but lack the necessary information on which to base those investment decisions.

Dr. Osman Ahmed, is a former official of the World Bank, the International Finance Corporation (IFC), and the Islamic Development Bank. He has worked in both the public and private sectors in the United States and the Middle East, including Saudi Arabia's Public Investment Fund (PIF) and with a number of consulting firms in the United States. Dr. Ahmed has also taught economics at several U.S. universities, including American University in Washington D.C., North Carolina Central University, and Elon University. Most recently, he was senior manager of policy and strategy at King Abdullah University of Science and Technology (KAUST) in Saudi Arabia. Presently, he is principal eonomic adviser to the President of Somaliland. Dr. has written extensively on economic and social development issues.