Maldives v Somalia

[absame100]

After I previous thread of Iceland v Somalia.

Now let's look at Maldives v Somalia.

Firstly Maldives is tiny.

But Maldives is today a wealthy country on it's way fast to being a rich one.

How did it get here?

Let's have a look at the stats.

GDP per capita will reach nearly 24,000 USD in 2028 v $705 for Somalia.

It's GDP in 2028 will be something like Cyprus or Greece today. That's developed economy levels.

So what did Maldives export? USD 238 million in 2021. 55% of that exports were fish. https://oec.world/en/profile/country/mdv

It's economy is just fish and tourism. A lot of tourism.

But it is developing a new island from reclaimed land from the sea. It is called Hulhumale.

So a tiny country of just 521,000 people is becoming rich by development not from foreign aid, ngos.

Yet Somalia is losing $600 million every year through fish plundering by foreign trawlers. Money lost down the drain.

 

[Hilmaam]

Everything somalia does is inefficient and loosing money. loosing millions of dollars burning trees and diesel for electricity . Still have some of the most expensive electric in world when we have rivers to build dams. Plenty of sun and wind as well. Loosing money due to lack of roads. Loosing money due to importing everything. Losing money due to country turning into desert because of lack of irrigation, grazing control, and lack of investment

To stop all this takes money and governance something we struggle with since inception of country.

 

[Sup]

After I previous thread of Iceland v Somalia.

Now let's look at Maldives v Somalia.

Firstly Maldives is tiny.

But Maldives is today a wealthy country on it's way fast to being a rich one.

How did it get here?

Let's have a look at the stats.

GDP per capita will reach nearly 24,000 USD in 2028 v $705 for Somalia.

It's GDP in 2028 will be something like Cyprus or Greece today. That's developed economy levels.

So what did Maldives export? USD 238 million in 2021. 55% of that exports were fish. https://oec.world/en/profile/country/mdv

It's economy is just fish and tourism. A lot of tourism.

View attachment 268400


But it is developing a new island from reclaimed land from the sea. It is called Hulhumale.

View attachment 268401

So a tiny country of just 521,000 people is becoming rich by development not from foreign aid, ngos.

Yet Somalia is losing $600 million every year through fish plundering by foreign trawlers. Money lost down the drain.

Are you really comparing a nation that has never seen conflict let alone a war, to Somalia which just exited a 30+ year war. Whilst simultaneously fighting terrorist. What are you going to do next, compare South Africa to Mali

 

[absame100]

Everything somalia does is inefficient and loosing money. loosing millions of dollars burning trees and diesel for electricity . Still have some of the most expensive electric in world when we have rivers to build dams. Plenty of sun and wind as well. Loosing money due to lack of roads. Loosing money due to importing everything. Losing money due to country turning into desert because of lack of irrigation, grazing control, and lack of investment

To stop all this takes money and governance something we struggle with since inception of country.

But what is so shocking is that it can all be done quite easily to reverse this.
The 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. To spend on bottom joined up developmental projects. An example. A PV Solar plant in Garowe. Lowers electricity costs, people start spending money, businesses start, more inward investment, jobs and then taxes for local and regional government

The damuljadid FGS has outsourced developmental projects to NGOs. This is a no no. There is no joined bottom up led development plan a country needs. We don't have a government we have someone who sees himself as a back office manager.

 

[absame100]

Are you really comparing a nation that has never seen conflict let alone a war, to Somalia which just exited a 30+ year war. Whilst simultaneously fighting terrorist. What are you going to do next, compare South Africa to Mali

Ok fair point. Let's look at Puntland. A relatively stable region. A regional state. Puntland has a investment planning office. The 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. That's still half of what they region can earn. (Fish plundering is worth $600 per year). You pay off the grant in lump sums and the rest goes to the treasury. To spend on bottom joined up developmental projects. An example. A PV Solar plant in Garowe. Lowers electricity costs, people start spending money, new businesses start, more inward investment, jobs and then taxes for local and regional government. The state then implements a goods and sale taxes and more income flows in for investment projects.

 

[Sup]

Ok fair point. Let's look at Puntland. A relatively stable region. A regional state. Puntland has an investment planning office. The 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. That's still half of what they region can earn. (Fish plundering is worth $600 per year). You pay off the grant in lump sums and the rest goes to the treasury. To spend on bottom joined up developmental projects. An example. A PV Solar plant in Garowe. Lowers electricity costs, people start spending money, new businesses start, more inward investment, jobs and then taxes for local and regional government. The state then implements a goods and sale taxes and more income flows in for investment projects.

Think of Somalia as a white canvas, we can be that change. Im well aware that all relevant politicians are corrupt to the teeth, but our society is a lot difference from other African nations. If more people spoke up about corruption and held their representatives to account I guarantee things would change for the better. Instead our people are content with the status quo, and would much rather protect a certain elected official because they hail from their clan.
People need to start putting their nation first and not their clan, until that changes we will be stuck in this limbo for decades to come.

 

[Garaad.XIV]

Even worse, Somalia, lags behind Seychelles, a small island country located in the Somali Sea with a population of only 99,000. Seychelles exports goods worth 2.2 billion annually, including 520 million in fish. Despite its small size, Seychelles outperforms Somalia in economic productivity.

 

[Lovegrain]

It should be compared to the useless Jabouti!