Puntland's investment problem

[TabK]

There has been a number of threads started recently attacking development in Somaliland, the threads have been mainly started by Puntlanders. I got curious so I started looking at Puntland's foreign investment record. What I found was very surprising, and goes to explain why Puntlanders are sensitive about this topic.

There appears to be a pattern of Puntland seeking foreign investment, being promised some money and development. And then investors deciding against working in that region.

Examples:

1- The $464 million dollars promise

Puntland asked Dahabshiil and Hyundai to invest in their region. Promises were made of $464 million in investment. Now 13 months later, not a cent was invested in PL:


2- The $336 million dollars promise

Puntland asked small ports operator P&O for investment. $336 million dollar contract was signed. Three years later, P&O has not invested a single cent in Bosaso:


3- The cancellation of €20.7 million German investment in Puntland due to "rampant" corruption

Somalia: Germany terminates road project in Puntland over rampant corruption

www.garoweonline.com

4- The Garacad port lie, from fake 40 million to fake 180 million

(The timeline in this case is important):

November 2018:
The Garacad port project first started as a proposal for a small rickety project reported to cost only $40 million dollars:

https://csomaritimealliance.com/news/puntlands-garacad-benefits-from-uae-spurred-port-development-in-somaliland-8492

March 2020:

Total cost still around the original 40 million.

20 June 2020

Galmudug announces Hobyo project at a cost of 90 million USD (the number is important, keep it in mind).

4 July 2020

Less than two weeks later, Puntland starts claiming that their Garacad port project, which they claimed was going to cost around 40 million, is now suddenly going to cost exactly double Hobyo port's cost, 180 million USD to be precise!

President Deni announces $180 million has been spent so far in Garacad

Absolutely incredible work by reer Puntland.

www.somalispot.com

This new 180 million figure is not based on anything, just a nice little figure they pulled out of thin air to one up Galmudug. To say I am surprised that a regional state is this petty is an understatement. We all knew Puntland cooks its numbers, but this has to be the most blatant case of this.

Once you put all these pieces of the puzzle together, it would make sense why some people are mad at the level of investment Somaliland is receiving.

 

[repo]

The 180 million figure is for the total project including roads leading to the new port, the port itself is 45 million and that has never been a secret since much of the material needed for the quay is abundant in Puntland, we had this discussion an hour ago. One of those roads is 70 million dollars from Galdogob to Garacad.

What prompted you to make this thread was this response from me.

Puntland outperformed Somaliland in:

1. Literacy rate
2. Primary school completion rate
3. Labour force participation
4. Access to water
5. Access to sanitation

World Bank Poverty Profile 2017

The poverty profile presents the first Somaliwide assessment of welfare conditions.

https://openknowledge.worldbank.org/bitstream/handle/10986/28470/Output-P160456-v7.pdf?sequence=5&isAllowed=y

Somaliland in numbers

• Weighted unemployment rate is 50 - 80% (depends on the sources)
• Youth unemployment is 75%

https://www.thenewhumanitarian.org/report/94285/somalia-unemployment-fuels-youth-exodus-somaliland

Literacy rate is 58% (see the World Bank report).

Puntland measures better than Somaliland in all those metrics. An IDP in Bosaso makes more than the average worker in Hargeisa.

"In comparison to Hargeisa, Bosasso residents enjoy a higher standard of living if we compare average daily incomes. While urban residents of Hargeisa earn, on average, about $1 a day, Bosasso residents earn over $4. Naturally, with respect to Bosasso, IDPs earnings are far lower. Most IDP households in Bosasso earn a daily wage of a little over a $1".

Internally displaced persons: Combined report on Somalia - Somalia

Situation Report in English on Somalia; published on 1 Aug 2002 by OCHA

reliefweb.int

Khat the mild stimulant is causing widespread unemployment is consumed by 90% of males and 20% of females. 20% of Somaliland's tax income is from khat and khat represents an 30% of the entire economy, it is the single biggest industry there. It is the reason why Somaliland is failing.

Chewing khat in Somaliland – DW – 04/09/2015

The narcotic plant khat is so deeply embedded in Somaliland's local culture that it has become a factor in the economic life of the country. Critics lament the disruptive effect on families.

www.dw.com

Somaliland khat

Narcotic plant is a huge tax-revenue earner that bolsters the region’s economy, but also disrupts family life.

www.aljazeera.com

 

[repo]

One of those roads is 70 million dollars from Galdogob to Garacad, it doesn't take a genius to figure out another one to Garowe would cost the same based on distance.

https://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/Somalia_Transport_Sector_Needs_Assessment_and_Investment_Programme.pdf

70 + 70 + 40. I know the literacy rate of Somaliland is 50% but don't tell me you lack arithmetic as well.

 

[Crow]

What evidence do you have that nothing was invested after the Puntland Investment Forum? You're making things up as usual.

This new 180 million figure is not based on anything, just a nice little figure they pulled out of thin air to one up Galmudug.

You've reached a new level of delusion. There is no port project in Hobyo. There is a port project in Garacad. We don't need to do anything to "one up" Galmudug except exist as we are. Your fan fiction is poorly thought out. I recommend you go back to zooming in on bulldozers and calculating $180 million.

Regardless of your lies, the Garacad port project continues with 100% funding from Puntites (which clearly triggers you) and 100% of port revenues to Puntites. And Puntland objectively enjoys higher socioeconomic metrics than Somaliland.

 

[TabK]

One of those roads is 70 million dollars from Galdogob to Garacad, it doesn't take a genius to figure out another one to Garowe would cost the same based on distance.

https://www.afdb.org/fileadmin/uploads/afdb/Documents/Publications/Somalia_Transport_Sector_Needs_Assessment_and_Investment_Programme.pdf

70 + 70 + 40. I know the literacy rate of Somaliland is 50% but don't tell me you lack arithmetic as well.

Your lie is busted, no need for this kind of shuban

Kulaha 70 + 70 +40, you are doing exactly what Pres. Denisto did, pulling numbers out of your ass.

If it was originally a 180 million project, the original announcement would have been for that sum.

But you got petty when Hobyo announced their port, and made a 180 turn (see what I did there?) to start claiming your little rickety port is going to cost 180 million.

 

[repo]

Your lie is busted, no need for this kind of shuban

If it was originally a 180 million project, the original announcement would have been for that sum.

But you got petty when Hobyo announced their port, and made a 180 turn (see what I did there?) to start claiming your little rickety port is going to cost 180 million.

It's clear to us that your existence revolves around us but it's not the same here. Garacad was not built to compete with a non-existing port and it was not "spurned on" by Berbera.

I will take the word of the World Bank, United Nations and now the African Development Bank over your assumptions.

This was another failed attempt today, don't go to sleep with high blood pressure.

 

[TabK]

What evidence do you have that nothing was invested after the Puntland Investment Forum? You're making things up as usual.

You've reached a new level of delusion. There is no port project in Hobyo. There is a port project in Garacad. We don't need to do anything to "one up" Galmudug except exist as we are. Your fan fiction is poorly thought out. I recommend you go back to zooming in on bulldozers and calculating $180 million.

Regardless of your lies, the Garacad port project continues with 100% funding from Puntites (which clearly triggers you) and 100% of port revenues to Puntites. And Puntland objectively enjoys higher socioeconomic metrics than Somaliland.

Your Puntland region is clearly struggling to attract any meaningful investment. The number of cancelled, or otherwise unfulfilled projects is shocking.

No one is willing to spend a cent in your territory, so you inflate your numbers to make it look like there is development. I understand why you would say otherwise.. but I have laid out the case above.

We can let the readers decide for themselves.

 

[repo]

What evidence do you have that nothing was invested after the Puntland Investment Forum? You're making things up as usual.

You've reached a new level of delusion. There is no port project in Hobyo. There is a port project in Garacad. We don't need to do anything to "one up" Galmudug except exist as we are. Your fan fiction is poorly thought out. I recommend you go back to zooming in on bulldozers and calculating $180 million.

Regardless of your lies, the Garacad port project continues with 100% funding from Puntites (which clearly triggers you) and 100% of port revenues to Puntites. And Puntland objectively enjoys higher socioeconomic metrics than Somaliland.

Apparently the road he was bragging about being paved from Burco to Ceerigaabo (7 years in the making) was not only unpaved but the project stopped cause the Somaliland tribes were fighting each other. So he left the thread only for another one to fail.

Somaliland 50% Poorer Than Puntland

Where is that long paved road, @TabK? My theory is your corrupt officials paved parts of the road nearer to Ceerigaabo and then on the other side on Burco and left all inbetween unpaved. :russ: This is the Ceel Daahir road as of this week...

www.somalispot.com

Meanwhile the road he says is cancelled by the Germans in Mudug, is being designed today.

 

[Crow]

Your Puntland region is clearly struggling to attract any meaningful investment. The number of cancelled, or otherwise unfulfilled projects is shocking.

No one is willing to spend a cent in your territory, so you inflate your numbers to make it look like there is development. I understand why you would say otherwise.. but I have laid out the case above.

We can let the readers decide for themselves.

On the contrary, we're doing just fine.

PUNTLAND - $250 million flood drainage project in Garowe and some other city. 7 year implementation period.

One project. Two cities. This is like an experiment. We can use it to see the differences between the cities. I think we all know what the results will be after the 7 years. :pachah1:

www.somalispot.com

Meanwhile in Somaliland...

Imaginaryland signs $1 billion deal with an imaginary bank to construct new imaginary city

https://somalilandchronicle.com/2018/08/26/ministry-of-investment-signs-a-billion-dollar-deal-with-a-non-existent-chinese-bank/ On August 14th, the Minister of Investment Mohamed Ahmed Mohamoud and a Maxtor Bank, a major Chinese bank has signed a billion dollar Memorandum of Understanding. The...

www.somalispot.com

SL gives away their islands/coast to a random white guy because he promised ictiraaf and a pyramid

Conned Again – How a Swedish Tombstone Salesman Acquired All of Somaliland's Islands under the Guise of Fake Marine Conservation. On June 11, 2019, a high-level delegation of Somaliland Ministers consisting of the Minister of Environment and Rural Development, Ms. Shukri Haji Bandari, the...

www.somalispot.com

 

[CanoGeel]

who sent this dumb bot @TabK that wakes and b4 brushing his teeth and wipin the crust of his eyes and googles about the House of Punt then logs on SSPot and BBbuut DaDa Da road is not 100% completewaryaa do us a favor and put this between ur statined teeth or lay off the pipe

 

[Crow]

who sent this dumb bot @TabK that wakes and b4 brushing his teeth and wipin the crust of his eyes and googles about the House of Punt then logs on SSPot and BBbuut DaDa Da road is not 100% completewaryaa do us a favor and put this between ur statined teeth or lay off the pipe

You may be on to something.

 

[Distant1]

Dr Osman hero and defender of Puntland where are you ?

 

[DR OSMAN]

@Distant1 @TabK is angry how PL can build this when SL relies on 'foreign' investment. In PL we have something called public/private partnership, we don't rely 100% on FDI, FDI 'supplements' our economy only, it's not the pillar of our economy like SL.

Waxaa ciil ka keenayo Somaliland waa 'sidee bay ku dhici karta in PL ay deked calami dhisato halka SL naflacari yahay'

 

[DR OSMAN]

@Distant1 the 'dr' waits for the 'time' to drop the nukes cause when I do, it's going to be not 'half qiyaama' but 'malinti qiyaama'. I haven't even delved into 'health stats' folder

PL spents double on 'food' a week then a 'lander' which re-enforces puntite theories that PL is richer then SL 'twice' over, which has remained quite consistently proven on all 'poverty' measures.

I am not just going of poverty measures based on 'income' but other measures such as 'unemployment' and 'food' and other metrics to show a stronger puntlander by at least 100% difference with Somalilander. Yes puntland isn't rich as the article says but it's not that damn poor like SL. PL needs 'more resources' but it's not working at the level of 'Somaliland' meager $15 a week food allowances, why? because SL household resources are lower by 100% difference to Puntite.

 

[DR OSMAN]

No matter metric I look at for 'wealth' there is always 100% difference between the average lander and puntite, not just total income but food and employment levels show the same rate of 'lander being twice as poor' as the average puntite. I am looking at other metrics of poverty also like 'household expenditure on water' and I bet we will see the same pattern emerging. Let's just accept if PL is 2 billion GDP, SL is 1 billion, always half that shit for landers cause that's what the stats show.

 

[DR OSMAN]

Isaaq iyo Majerten waxay isku hayan keliya waxay tahay 'wiilka puntland iyo wiilka somaliland' jeebkooda ma sinna, wiilka puntland ayaa 100% capacity ka badan dhinac walbo. Hadi taas ay aqbalan Somaliland, dhib kale naga dhaxeeyo ma jiro. If they don't puntites will continue to find more proof and present it to the somali people.

 

[TabK]

Not a single one of them addressed the topic, namely how their Puntland region is struggling for cash and all large foreign investments are bailing out and not investing a single cent.

The Garacad lie has been busted friends. From 40 million they pulled out of thin air, to being so petty that within days of Galmudug announcing a 90 million project, they magically upped their numbers to 180 million... a 180 million which looks like this:

Almost as bad as that one time when Puntland copied Somaliland reports word for word, they copied Somaliland's urban policy like a kid who did not do their homework would copy his smarter classmate's work:

Somalia: Puntland Minister slammed for releasing “copied” report from Somaliland

www.garoweonline.com

This is why Puntland figures should never be trusted, they have been caught cooking the numbers multiple times.

 

[CanoGeel]

Isaaq iyo Majerten waxay isku hayan keliya waxay tahay 'wiilka puntland iyo wiilka somaliland' jeebkooda ma sinna, wiilka puntland ayaa 100% capacity ka badan dhinac walbo. Hadi taas ay aqbalan Somaliland, dhib kale naga dhaxeeyo ma jiro. If they don't puntites will continue to find more proof and present it to the somali people.

low doses of reality check Ditore we dont wanna him to rope

 

[DR OSMAN]

low doses of reality check Ditore we dont wanna him to rope

60% of SL shit outside, 30% for PL. 70% of SL homes are in poor condition, never buy their property if I were u, it's low construction material and doesn't hold well. In PL 45% of Bari homes are poor quality where-as 22% in Nugaal. That means you can find 65% of homes in PL to be good quality and 80% in Nugaal. I don't want him to rope lakin he is making me go into my folder of 'nukes'. I am slowly releasing it so it doesn't turn into a 'yowmul qiyaama'

 

[CanoGeel]

[QUOTE="DR OSMAN, post: 2560465, member: 70% of SL homes are in poor condition, never buy their property if I were u, it's low construction material and doesn't hold well. In PL 45% of Bari homes are poor quality where-as 22% in Nugaal. That means you can find 65% of homes in PL to be good quality and 80% in Nugaal. I don't want him to rope lakin he is making me go into my folder of 'nukes'. I am slowly releasing it so it doesn't turn into a 'yowmul qiyaama'
[/QUOTE]
so it's mostly ghetto. do they honor buyers remorse. i wanna my money backmise property rights and law ma jiro. ha la iskaga xaaro marka