Puntland Minister For Industry How To Advance Economically Speech
- Thread starter DR OSMAN
- Start date
As a citizen of Puntland, I will contribute my ideas to advance Puntland economically.
1. We need to stop trading and produce locally what is required. We must identify rare items or products that the nation needs. Doors, Windows, Cement, furniture, bedding. These items are expensive and if produced locally to service the local market will increase our GDP. We must stay away from items that are cheap and let other somalis focus on that. We must select items that are expensive after production costs are accounted for. Low cost item production, will also mean low salaries and less taxation revenue for the government. The key to economic success is selecting items that are in high demand yet a small supply pool.
2. We need to create an industrial zone in Bosaso. I say Bosaso because we can send of our products by ship to other parts of Somalia or abroad and is a good location. The industrial zone must allow investors free or subsidized land for their investment
3. We must ensure we have a strong banking sector, loans are absolutely important to create future business people or home owners. We must streghthen borrowing/lending in our culture, money will not drop from the sky, you need a bank so it can fuel business start ups.
4. We must scan locally in Somalia what is used heavily and needed and create those items in Somalia. This will give us dominance in the local market. In the global market we must meet up with delegates of those countries and ask them what is needed in their country, once we collect this data, we present this to our business men to analyse the business feasibility of the data.
5. We need to immediately certify our universities so our students skills are recognized locally and globally. This could create another boom sector for us where all Somali students will attend Puntland universities and these students will be paying lots of money in desire to get our university qualification because it's accreditated globally by other top universities of the world. Student trade is something Somalis forget. This is a huge industry, big money is spent on it. We shud concentrate Somali student trade to Puntland.
6. Our infrastructure needs funding especially electricity expansion as big machines require alot of energy, it's unfortunate but a factory cannot operate if the infrastructure is having power outages constantly and high costs. Roads must be top-notch and safe to travel through to get our product into the local markets.
7. We must ban any manual method in our market place, this is critical, the govt must modernize our market place with industrialisation, where-as the govt is only focusing on modernising the government, while the market operation is 3rd world. We need to produce faster with quality assurance. Quality assurance of our products is critical, we need the government to create a legal watch dog in Puntland where consumers can report companies for faulty or unusuable products or dodgy services. This will make our market place trusted, reliable and even will make other Somalis shop in Puntland over their own markets.
1. We need to stop trading and produce locally what is required. We must identify rare items or products that the nation needs. Doors, Windows, Cement, furniture, bedding. These items are expensive and if produced locally to service the local market will increase our GDP. We must stay away from items that are cheap and let other somalis focus on that. We must select items that are expensive after production costs are accounted for. Low cost item production, will also mean low salaries and less taxation revenue for the government. The key to economic success is selecting items that are in high demand yet a small supply pool.
2. We need to create an industrial zone in Bosaso. I say Bosaso because we can send of our products by ship to other parts of Somalia or abroad and is a good location. The industrial zone must allow investors free or subsidized land for their investment
3. We must ensure we have a strong banking sector, loans are absolutely important to create future business people or home owners. We must streghthen borrowing/lending in our culture, money will not drop from the sky, you need a bank so it can fuel business start ups.
4. We must scan locally in Somalia what is used heavily and needed and create those items in Somalia. This will give us dominance in the local market. In the global market we must meet up with delegates of those countries and ask them what is needed in their country, once we collect this data, we present this to our business men to analyse the business feasibility of the data.
5. We need to immediately certify our universities so our students skills are recognized locally and globally. This could create another boom sector for us where all Somali students will attend Puntland universities and these students will be paying lots of money in desire to get our university qualification because it's accreditated globally by other top universities of the world. Student trade is something Somalis forget. This is a huge industry, big money is spent on it. We shud concentrate Somali student trade to Puntland.
6. Our infrastructure needs funding especially electricity expansion as big machines require alot of energy, it's unfortunate but a factory cannot operate if the infrastructure is having power outages constantly and high costs. Roads must be top-notch and safe to travel through to get our product into the local markets.
7. We must ban any manual method in our market place, this is critical, the govt must modernize our market place with industrialisation, where-as the govt is only focusing on modernising the government, while the market operation is 3rd world. We need to produce faster with quality assurance. Quality assurance of our products is critical, we need the government to create a legal watch dog in Puntland where consumers can report companies for faulty or unusuable products or dodgy services. This will make our market place trusted, reliable and even will make other Somalis shop in Puntland over their own markets.
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In Af Somali the key to economic sense is to find meel kasto oo 'BAAHI WAYN IYO WAX SOO SAR YAR' ka jirta and filling that vacuum. This means there is a huge demand and low suppliers. We must identify this in Somalia and regionally aand globally and begin investing into those areas. We will dominate the market then and have a huge pool of customers with little to no competition.
4cryingoutloud
Puntland republic πΈπ±
Good points Dr, I suggest you contact someone in the government in Puntland and forward your ideas.
I wish Puntland government had a platform where it could communicate with its diaspora about different topics and that way we could have a meaningful exchange of ideas.
I wish Puntland government had a platform where it could communicate with its diaspora about different topics and that way we could have a meaningful exchange of ideas.
There is a website for Puntites to share ideas with the Government here. @DR OSMAN register here and share your ideas, they are so good Mash'Allah.
Madasha Talo Wadaag Garowe
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Ditoore comes with good ideas.
I clicked on the page it seems to be an undp initiativeThere is a website for Puntites to share ideas with the Government here. @DR OSMAN register here and share your ideas, they are so good Mash'Allah.
Madasha Talo Wadaag Garowe
www.talo-wadaag.so
4cryingoutloud
Puntland republic πΈπ±
Thank you for the link, a really good initiative. It would be good if someone could upgrade the website tho, it looks old and outdated. Maybe make an app to it? That would have been great. I really like that you can upvote an idea, really cool.There is a website for Puntites to share ideas with the Government here. @DR OSMAN register here and share your ideas, they are so good Mash'Allah.
Madasha Talo Wadaag Garowe
I would create a lobby group for each industry in PL and demand they end manual operations and introduce either machine or technology or both. I would bring in economic specialist of each industry and tell them to train our local market place to produce more products. I would advise the government to set up market quality assurance office to keep businesses honest to customers and be fined or forced to refund customers who recieve dodgy products or services.
I would ensure each lobby group sets up standards of operation for their industry and demand all their businesses to adopt the same standards of operation. I cringe at the speed of service delivery, products, and goods in Puntland. It can take 2 years to build a villa, while it only takes 12 weeks elsewhere. This gap in productivity will affect our GDP as we produce less each year in comparison to the rest of the world. The new real estates being built in PL, it takes only maximum of 2 years for developed world, while it's going to take us 10 years. It's absolutely critical any economic reform needs to address these gaps.
I would also ban outdoor markets, I prefer indoor markets with A.C to keep ppl products fresher, outdoor markets produce will expire quickly
I would ensure each lobby group sets up standards of operation for their industry and demand all their businesses to adopt the same standards of operation. I cringe at the speed of service delivery, products, and goods in Puntland. It can take 2 years to build a villa, while it only takes 12 weeks elsewhere. This gap in productivity will affect our GDP as we produce less each year in comparison to the rest of the world. The new real estates being built in PL, it takes only maximum of 2 years for developed world, while it's going to take us 10 years. It's absolutely critical any economic reform needs to address these gaps.
I would also ban outdoor markets, I prefer indoor markets with A.C to keep ppl products fresher, outdoor markets produce will expire quickly
4cryingoutloud
Puntland republic πΈπ±
What if we made an platform where Somali specialist in different areas like for exempel industrial engineers, economists, operation managers could meet, exchange ideas and form a alliance. These can then develop into a lobby group who sets a standard of operation in their industry, in each sector of the market in Puntland or other places in Somalia. What do you think about that Dr?
