State owned company

[Abdalla]

Gobol Owned Companies would be great.

You need to have dedicated business news channels in Puntland. The people need to see what transparency is all about. When you watch BNN in Canada or Bloomberg, they bring on guest from many companies industries to discuss what is going on with peoples investments.

If we can build investment culture in Puntland, they people will get that “Ahaah” moment and start investing in companies they believe are managed properly.

I can’t speak for other gobols, but Puntland needs to put a focus on business education through a dedicated TV station.

The gobol should have a facilitating role, nothing more. I am always amazed at the stupidity or the lack of creativity of our leaders. Gaas went a million times abroad ( I am not even exaggerating). Not once did he take did his delegation consis of business community with him on his many state visits, but he took the parliament speaker with him

 

[Merchant of Mogadishu]

I believe the government should create its own companies at first, then slowly privatise them to incorruptible entrepreneurs, to create a regulated (not too much) market system.

 

[Boqor]

If we could advetise out 'cambuulo' well we could find a market for it.

You really wouldn't but focus on fixing the government first, before you happily give them access to the country's natural resources

 

[hindhisle]

UAE for example operated mainly on Government owned oil companies. Such as ADNOC & ADGAS. These were owned by the abu dhabi emirate, and they'd use revenues to fund projects in the poor emirates(Fujaira, al ayn, ajmaan..), Even until today those poorer regions are wealthy because of government subsidies granted to every emirate citizen. When the time was right, the government focused on developing ports & not relying mainly on oil/gas.

Emirates is a good example to take from. Not holistically, but for the most part.

Yeah, there are alot of countries that has done the same thing. Norway is another great exzample for state managed entities. The state owned oil company is one of the most well run company in the world. The PM is from norway, hope he take a lesson from them

 

[Deactivated]

Thats i called for meritocracy, but thet's not going to happen in somalia anytime soon.


What are those orange objects if you mind me asking? Is it gold?
:siilaanyolaugh:

Meritocracy will start in Puntland first.

What gobol are you from?

People need to have thier gobol in the signature.

 

[hindhisle]

I believe the government should create its own companies at first, then slowly privatise them to incorruptible entrepreneurs, to create a regulated (not too much) market system.

Thats what i said.

 

[Merchant of Mogadishu]

Thats what i said.

Well, we have an agreement then.

 

[Deactivated]

The gobol should have a facilitating role, nothing more. I am always amazed at the stupidity or the lack of creativity of our leaders. Gaas went a million times abroad ( I am not even exaggerating). Not once did he take did his delegation consis of business community with him on his many state visits, but he took the parliament speaker with him

Puntite Owned Private Equity funds will be the future.

Companies who return earning back to shareholders and give them completely transparency every quarter.

Meritocracy will grow through business.

Puntlandimo is the mindset that has endless returns to the gobol.

 

[hindhisle]

Meritocracy will start in Puntland first.

What gobol are you from?

People need to have thier gobol in the signature.

Hahaa i hope you are right.


I'm from south-west.

 

[GeKo]

State owned companies could spell out disaster for Somalis, due to the corruption that will follow. Who's to say that the profit that comes in from natural resources will be used to benefit the people. We haven't built an accountability framework that checks on these state owned companies, otherwise they're bound to fail. I don't think the state would be keen to increase transparency as well.

The socialist Siad regime tried that and most companies ended up in disaster. The modern state owned sugar factory, weren't keeping up with maintenance costs since most of the profit were being pocketed. In the end, the factory shut down along with many other state owned companies in the 80's.

The same can be seen in most developing countries. Saudi's state owned Aramco doesn't release it's financial statement and it's said to be the piggybank of the royal family. What's to stop our state president's from doing the same, if given direct authority over the natural resources of the state.

Only the west and maybe China could pull off state owned companies. It doesn't even appeal to the west, only in crucial sectors that should only be entrusted with gov't like water treatment, public transportation, law enforcement etc.. Much of everything else in the west are private companies.

 

[Bahal]

We need chaebols

 

[Deactivated]

Hahaa i hope you are right.


I'm from south-west.

Gobolists!!!


They will call you Qabilist if you love your state.


Food us with your fertile land.

 

[Deactivated]

State owned companies could spell out disaster for Somalis, due to the corruption that will follow. Who's to say that the profit that comes in from natural resources will be used to benefit the people. We haven't built an accountability framework that checks on these state owned companies, otherwise they're bound to fail.

The socialist Siad regime tried that and most companies ended up in disaster. The modern state owned sugar factory, weren't keeping up with maintenance costs since most of the profit were being pocketed. In the end, the factory shut down along with many other state owned companies in the 80's.

The same can be seen in most developing countries. Saudi's state owned Aramco doesn't release it's financial statement and it's said to be the piggybank of the royal family. What's to stop our state president's from doing the same, if given direct authority over the natural resources of the state.

Only the west and maybe China could pull off state owned companies. It doesn't even appeal to the west, only in crucial sectors that should only be entrusted with gov't like water treatment, public transportation, law enforcement etc.. Much of everything else in the west are private companies.

Rwanda has many state owned companies.

It’s used as a vehicle to change the culture and create an atmosphere of audit controls and transparency.

The central government isn’t ready for a stateowned company, but the when they are it can pull from the best and brightest people to work for the company and change the mindset of Somalis.

Somalia needs to have Audit culture in order to have the state owned company to succede.

The day a state owned company opens in Somalia, it has to be announced on a Somali Bloomberg style TV station.

 

[Marsin]

Somalia is ridden with clanism where ministates are bullying the weak cenral government.

Todays poltics in Somalia is qabiil before qaran so no, they ain' ready for state owned companies.