Iceland vs Somalia

[absame100]

Let's look at the island country of Iceland.

Iceland is small but very rich.

How did it become very rich. Their GDP per capita will hit 90,000 USD in 2026 v 638 USD for Somalia. (https://www.imf.org/en/Publications...cc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1)

What does Iceland export? It exports fish! It's economy is mainly fish exports (USD1.1 billion in 2022) and tourism.

Yet Somalia allows it's fish to be plundered and loses USD 600 million in potential earning. ($6bn every 10 years). Enough to pave for desalination plants, roads, hospitals, schools and solar power plants.

Instead they rely on crumbs given to them in foreign aid and ngos.

Are Somalis retarded?

 

[bidenkulaha]

You need infrastructure to catch and export fish. You need a navy to stop illegal fishing.

Somalis also don’t eat fish so there isn’t a large market. I believe we have the one of the lowest consumptions of fish in the world despite having the longest coastline in Africa

 

[absame100]

You need infrastructure to catch and export fish.

Somalis also don’t eat fish so there isn’t a large market. I believe we have the one of the lowest consumptions of fish in the world despite having the longest coastline in Africa

A country's Ministry of Planning or Fishery will go and do a deal with a foreign developmental bank. Like Japan's JICA or China's China Development Bank International Investment. For an outlay investment of say $50-75m you will spend that grant on trawlers, assembly plant, solar PV's for electricity for the cold food storage, roads to ports (Hobyo, Garaad) you hire foreign experts (indians etc) for technical assistance. That's enough to recoup at least $300m p/a. You pay off the grant in lump sums and the rest goes to the treasury. It can easily be done but the country people are mentally retarded.

You can export to Japan, Ethiopia, Rwanda, India etc.

 

[bidenkulaha]

A country's Ministry of Planning/Fishery will go and do a deal with a foreign developmental bank. Like Japan's JICA. For an outlay investment of say $50-75m you will spend that grant on trawlers, solar plant for cold storage, roads to ports (Hobyo, Garaad) you hire foreign experts (indians etc) for technical assistance. That's enough to recoup at least $300m p/a. You pay off the grant in lump sums and the rest goes to the treasury. It can easily be done but the country people are retarded and weak people.

Fantasy. Somalia is under financial sanctions, lacks any rule of law and regulations. No one is going to invest large sums of money. You need to build trust.

The only hope we have is access to IMF loans soon. Hopefully this is spent well to develop a maritime economy

 

[mahamdov]

People kill each other because of their twenty grandfathers , and 90% of their women have been subjected to FGM.
Most of them reject secularism .and accept that the adulterer should be killed by stones . Yes they are retarded.