Kenya: Nairobi hosts Somali Reconstruction and Investment Conference

By George Okore

As Somalia looks to build a secure and prosperous future, the first Somali Reconstruction and Investment Conference and Exhibition (SORIC) will be held in Nairobi, Kenya on May 28-29, 2013 at the Kenyatta International Conference Centre.

This ground breaking event will be the first of its kind to bring together key policy makers from the Government of Somalia and Somaliland, top decision makers from international and regional development organizations, and participants from public and private sector. It is the only event of its kind fully endorsed by Federal Government of Somalia and supported by the Ministry of Trade, Somali Chamber of Commerce and Industry and Kenya National Chamber of Commerce.

A new era has dawned on Somalia and the country is embarking on a dynamic path of political and economic renewal after long-running civil strife and political turmoil. After 22 years of civil war that ravaged the country, peace is finally returning. “The successful conclusion of Transition Roadmap in August last year and liberation of large territory from the control of Al Shabaab have widened a window of opportunity for lasting peace in Somalia.  Somalia is on course, now more than ever, to lasting peace,” observed Kenyan President Uhuru Kenyatta during last months the London Conference on Somali.

The conference comes at time when there are encouraging signs and hopes for the country. The Somali government has been recognized by USA, UK, European Union, Turkey, United Arab Emirates, African Union, World Bank and International Monetary Fund (IMF).Accordingly, Mr. Shirwa Jama-International Development Law Organization (IDLO) Somalia Country Director says the changing fortunes calls for paradigm shift on how investors   and international community approach Somali. Mr. Jama argues that almost all sectors and industries in Somali are rebuilding from the scratch, thus limitless opportunities for genuine and meaningful investments   that benefit the Somali people.

“This conference, which is fully endorsed by Government of Somalia, will bring together key stakeholders from the country, regional and international setting. It is the first of such an event that will be focused on reconstruction and investment in the country from regional perspective,” says Somalia Ambassador to Kenya Mohamed Ali Nur.

The first private sector led Somali reconstruction and investment summit will provide participants with unique opportunities- from interactions and networking, to open and frank discussions on engagements, business opportunities and future agreements. The conference will be a complimentary platform to all efforts aimed at stimulating reconstruction and investment efforts in the country.

“Kenyan investors believe that the end of active combat in Somalia could usher in a friendly regime that would promote cross border trade. Such a regime will most likely seal the remaining smuggling routes, eradicate piracy and facilitate free exchange of goods, services and investment capital. The time to invest in Somalia is not tomorrow, it’s now, if not now, just now,” says James Mureu from Kenya National Chamber of Commerce and Industry.

Combined with already existing peace and stability in Somaliland and Puntaland, unique opportunities for investments in energy, banking, health, water, food security and others have opened up investments opportunities in the country. Therefore the meeting will address immediate investment challenges in Somalia and showcase major positive reforms already implemented in relation to business and investment in the country.

 “It is time for reconstruction and investment in the country, as there are huge opportunities in all sectors. This event will provide unparalleled platform for interactions between senior policy makers and the business community from the region and the world at large. We expect that unique and more business opportunities will be discovered and partnerships formed between various participants during this conference,” says Mr. Hassan Noor, CEO HanVard Africa, and Conference Organizers.

Mr. Hassan is urging the international community to provide resources, tools and professional skills to enable Somalia establish and strengthen its rule of law and good governance practices