I am watching this still, it's sad that some puntites are being influenced by these crazy southies who think a free market is good for poor countries, this is exactly why investors love a poor country that is deregulated, it means they can increase their profits and invest their profit margins into tax haven like Switzerland and not into the country it is robbing. So let this be a warning for Somalis who support a de-regulated market, multinationals, and low taxation, watch that video and u will see the pitfalls of this policy. That turkish hotel in mogadishu, why doesn't the govt audit it and see how large money goes out towards turkey while minimal goes into mogadishu(cleaners, security guards) the skilled workers are all turks so this generates more wealth for turks not somalis, while their pimping u in your own city and taking mogadishu customers away from them. Why this happened is due to a de-regulated market place. This just hotel, imagine what will happen to the south if they have resources? they will always be second best wallahi, they think 'daar qurxoon' reflects on their people wealth. Last time I checked economists don't measure how many 'daar qurxoon' exist in a country but the purchasing power of it's citizen and u know how poor the local mogadishu person is.
In-fact I think it's un-wise to sell PL resources while we are poor, we are opening up ourselves to clear exploitation, we need to develop our own internal markets and not focus on export driven matters, you will never win in the international market as a poor country other then being a haven for investors to cut their operating costs due to your weak govt, low taxes, poor people = large profit margins. I propose a banking sector and a culture of borrowing n lending is implemented in PL markets immediately to encourage encourage our locals to develop internally while govt implement strict tariffs on importation for 30 year period.
Not just imports but we must tax anyone who is investing in our resources even agriculture and tell them u r wasting your time and the govt should ensure they are taxed heavily to discourage them from foreign exports. We want our people to borrow capital from bank, invest in the market place and create a business and then hire locals. The govt then needs to interfere in the market and ensure taxation is collected by workers and business and ensure businesses pay a rate of salary that is linked to cost of living so we can generate growth for workers to become middle class and own their own property. The rule should be u can be rich but u must also ensure each worker has enough funds to become a consumer of the market which is when the market grows when the worker is spending.
All of this cannot be achieved without govt intervention in the market without strict worker regulations nor it this achievable without bankers being invited to park their money in our banks to ensure the capital is there to support our entrepeneurs to seek loans. Then we need the govt priority be infrastructure, schools and hospitals, no-one will hire someone if their illiterate nor will they pay someone well that is unskilled regardless if their literate or not, this is the part the govt should focus on the human capital infrastructure. Plus it's very difficult to create a labor force if health standards is not good.
Once this is achieved, we will have a huge middle class, skilled workforce, a govt culture that is worker orientated and we can then invite natural resource companies and multinationals, now waa even playing field, but don't invite them while their is no equality whatsoever.