Puntland Economic Summit

[DR OSMAN]

Puntland needs a Real economic summit so we can plan our economic development following Strong Pillars.

1. Expand livestock Market to Muslim Countries(especially those who are highly urbanized) since they lack population to do it or those with land limitation
2. Expand Fishery to new markets especially land-locked nations globally
3. PL Banks needs to open up nation building bonds(physical or social infrastructure) following in Garacad model to the diaspora and foreigners
4. Demand Investors to open up Private Banks so locals have access to finance to pursue start-ups or if their employees purchase assets(home, cars, etc)
5. Test all the various soils in PL and find out which one is suitable for farming. Zone it so it's protected like we did recently with Pasture Land in the valleys(doxoyinka) and sell plots to investors to address our food security.
6. Begin Processing plants by taking cheap african raw materials and selling it as finished products
7. Scan the stock-market and commodities that can be done in PL
8. Scan 3rd-2nd-1st world markets for supplier shortages and build those list of industries in PL, for example medical warehouses addressing diseases in the continent. Disease in Africa = baahi wayn huge demand, while suppliers = none. U mix the two combo, u got big market and no competitor. U need to do this equation across 1st-2nd-3rd world markets and bring the investors to fill that gap in PL and create jobs 4 puntite.

 

[DR OSMAN]

All puntites will be like this if all our investors have the above road-map becuz it's strong in theory and will limit business failure rates plus provide confidence to investors.

 

[GaradShabeel]

@DR OSMAN You've pilled a list of great steps to be taken to develop PL.

2. Expand Fishery to new markets especially land-locked nations globally

Before expanding to new markets, it's of great importance that PL realizes the potential it has. With Somalia's longest coastline, PL need to commercialize fishing instead of just relying on small local fishermen. It certainly requires investment in both competence and the equipments you need to fish, preserve, transport, sell etc. to implement large scale fishing. Using Somalia's international partners to get some funding and training from market-leading countries like Norway would be excellent in the short run and over time become more self-reliant.

After the extension of Bosaso and Garaacad port are finished, several decent sized fishing ports to accommodate industrial fishing would be need all over the coast, instead of having to transport on roads to the closest of the existing two ports.

I also don’t like the idea of Somalia ‘selling’ fishing licenses to foreigners. Most of the active ones, pay pennies while banking disproportionately from Somalia’s water. I know it’s hard to contain illegal fishery, but in the near future, PL/Somalia need to develop its navy to deal with any threats and violation of our sovereignty.

5. Test all the various soils in PL and find out which one is suitable for farming. Zone it so it's protected like we did recently with Pasture Land in the valleys(doxoyinka) and sell plots to investors to address our food security.

Aside from maximizing land where agriculture is suitable, PL need to think ahead and use technology to find new farming avenues. Ideally would be to follow in Israel's footstep where they've managed to turn some of its desert into farming land. Even though PL ain't a desert like Israel, it would still require lots of investment, which may be possible at a late date in the future.

As of now, indoor farming is another more cost effective option, where the soil is irrelevant and can be achieved anywhere. This agricultural practice is not directly dependent on the climate, meaning that droughts will not be an issue. However, the source of water need to be secured for irrigation like dams. But overall, it's doable.

I'm of the opinion that, even if investors should be attracted, that it's the state's responsibility to safeguard the food security (at least on a basic level) of its residents/citizens. Leaving it to non-state actors may backfire in crucial times. Public-private partnership would be the best option.

6. Begin Processing plants by taking cheap african raw materials and selling it as finished products
8. Scan 3rd-2nd-1st world markets for supplier shortages and build those list of industries in PL, for example medical warehouses addressing diseases in the continent. Disease in Africa = baahi wayn huge demand, while suppliers = none. U mix the two combo, u got big market and no competitor. U need to do this equation across 1st-2nd-3rd world markets and bring the investors to fill that gap in PL and create jobs 4 puntite.

PL should utilize its vast land to become the industrial hub of Somalia and sub-sequently of the entire region. As you mentioned, there are opportunities for PL to find 'gaps' in the market and then turn into a niche. A first step would be to have a sort of 'protectionist' attitude, by establishing PL in all sectors and becoming self-reliant through limiting import and the cheap product flooding in the market. Once this happens, you can move to new markets away from home.

Prior to entertaining a full on industrialisation of PL, the conditions must improve for businesses to thrive. For instance, Somalia have some of the most of expensive electricity cost on the planet. There're an abundance of opportunities of energy sources like solar and wind energy, but again it may be costly. Neighbouring Ethiopia pays a fraction of the cost. Do you want to become dependent on them (a politically ill advised and shortsighted alternative) or continue using energy sources inside Somalia despite its financial setback? Things like this make places less attractive to investors.

 

[GaradShabeel]

@DR OSMAN Does Puntland have a vision 2030/40/50?

A roadmap alike other developing countries is crucial to plan the development of PL in orderly stages. It’s also great for successive administrations to continue on the plans set by its predecessor, instead of starting with strategies from ground zero everytime a new president arrives at the seat.

 

[DR OSMAN]

@GaradShabeel imagine the GOVT opened up tenders for infrastructure to investors in the diaspora. We could build things like Gas Plants and create grid-distribution like we do with the water grid, which is far cheaper 4 customers then buying individual gas drums every month.

We could address the shortage in hard infrastructure like sewage, roads, airports, drainage, electricity, etc. The investors cud collect a nice dividend thru govt increasing 'taxes' on new roads or increase land rates and house taxes who will benefit from drainage. Sewage companies could be totally private like water plant is.

We could build our own infrastructure if the govt starts selling infrastructure shares following in the Garacad model. Everyone wins, govt, shareholders and the public rather then giving this shit to DPWORLD a foreign company enjoying your infrastructure for 30 years for a small 'upgrade'.

Only idiot govt give away infrastructure to foreigners who secure a whole market dependent on it, while doing not a whole much and collecting fees. Infrastructure is isbaaro, that the whole ppl depend on.