PRESS RELEASE: Mogadishu, October 4th, 2021

The  National  Economic Council  of  Somalia  (NEC),  a  Principal  Advisory  Council  to  the   Federal Government of Somalia mandated to strengthen the formulation and execution of national economic and social policies, inaugurated the Growth and Economic Transformation Strategy (GETS) in Somalia in collaboration with the Ministry of Planning, Investment and Economic Development and other key economic and social policy ministries and government agencies.

Dr. Ali Issa, the Executive Director of NEC, delivered a welcoming statement at the opening session of the  event that extended a warm  welcome to  the  Government ministers, members of Parliament, senior officials  from  the  federal and  member states agencies, as well as representatives from  the private  sector,  academic  institutions, civil  society,  and   development  partners.  He  extensively elaborated on  GETS studies which  comprised the  three key  Pillars  of:  sustainable and  inclusive development; food  security, climate  change adaptation and  building resilience, and  development of the  blue economy in Somalia.   He noted that in the  coming months the  NEC economic advisors and associated researchers will prepare objective studies with the direction of an Inter-Ministerial Steering Committee that will provide necessary support and guidance to the  preparation of the  GETS vision, while ensuring continued involvement, evaluation, and  interpretation of the  findings  from  a public policy perspective.

The Director indicated that the  Growth and  Economic Transformation Strategy is a broad-based, multi-sectoral vision with the  goal of creating a prosperous, secure, democratic and inclusive country with a high  quality  of life. The Strategy also  builds  on the  current National Development Plan and extends it into a 30-years span  till 2050,  aimed at transforming Somalia  into a lower-middle-income status that provides wellbeing to all citizens  on a sustainable basis.  In addition, he concluded on the urgent need to shift the  national focus  from the  essential political  transition to economic and  social policies management and recovery.

Similarly, Dr. Abdirahman Abdullahi  (Badiyow), an Academic and  prominent Author, who delivered a keynote speech and Mr. Andy Kotikula, Senior  Economist at World Bank, both spoke at the  opening session and stressed on the  need for economic transformation in Somalia and applauded the  efforts of NEC with the  expertise of its National Economic Advisors  (NEAs) in significantly  contributing to Somalia’s  economic recovery through fact-based and  objective policies  and  programs. Dr. Badiyow also  stressed the  urgent requirement to  ensure peace and  security, as  well as  reconciliation and supportive culture of tolerance in the society.

H.E Khalif Abdi Omar, Minister  of Commerce and Industry, who officially opened the inaugural event of   the  Growth and  Economic Transformation Strategy stated  “ that he  hopes the  Growth and Economic Transformation Strategy development reinforces the  capacity of the  state at federal and local level to support the development of Somali productive sectors by improving Somalia productive sector’s policy regulators’ capacities to create a business environment that will lead to sustainable and inclusive economic growth and decent job opportunities.”

The event then entailed panel presentations on the  three thematic areas of GETS vision precisely Sustainable Economic Development, Climate Change Adaptation and  Building Resilience, as well as Sustainable Blue  Economy in  Somalia.  The  discussions attracted  proactive feedbacks from  the audience who have raised questions to the presenters and shared their commentaries, endorsements and recommendations with NEC.

The hybrid  event was attended by more than  a hundred high-level  personalities and representatives that included H.E. Khalif Abdi Omar, Minister  of Commerce and  Industry, H.E Abdi Sheikh Ahmed, Minister of Communication and Technology, H.E Abdirashid Mohamed Ahmed, Minister of Petroleum and  Mineral  Resources, H.E. Abdullahi  Sheikh,  Deputy Minister  of Finance, H.E. Mahad Mohamed Hassan, Deputy Minister  of Ports and  Marine  Transport, Mr. Abdulkadir Mohamed Aden,  Director General of the Ministry of Planning, Investment and Economic Development, who all took  part in the discussions, in addition to Directors and officials from various government institutions, representatives from the private sector, civil society, academic institutions and development partners. At the  concluding session, the  Executive Director of NEC expressed his gratitude to  all for  their thoughtful contributions in terms of discussions, technical input,  and  recommendations.  He further indicated that the  preparation of GETS will be participatory and  centered on effective dialogue and consensus-building among all Somali public and private stakeholders including the women and youth; the  diaspora and  civil society so as to provide a sense of national commitment based on thorough analysis and diagnosis of the country’s past and present.