A new economic strategic push is needed to build a new Somaliland.

THREAD ALERT

1/ Somaliland has immense economic potential. Read this thread

@thebhlub @haadka_hawd @WeSomalilanders @Somalilandbiz @ministry_gov @yGabobe @ayanshizi @yyusufd @MinistryofInve1

2/ Somaliland has the potential to be a much wealthier in less than 10 years.

We have a small population of 4.5m, a land area larger than England, Bangladesh, Tunisia, Greece. And ample resources including arable land, coastline, minerals, sun, wind and a strategic location.

3/ What we lack, is a correct economic strategy.

Somaliland is currently an agricultural & pastoral economy (as is most of the developing world)

But we want to become an industrialised, market based, mixed market economy. SL can do this by following the established path.

4/ That means leverging our naturally competitive edge in certain areas, mechanising those and starting large scale commercial operations.

Commercial farms, abbetoirs, fisheries, solar power plants and light manufacturing.

Then you get economies of scale and real econmic growth

5/ This is actually not that difficult. Somaliland already gets at least $500m a year fom remittances + $250m from exports.

The government needs to channel this capital & invest in income generating activities. Sell bonds to diaspora.

= accelerated middle income country status

6/ Here are problems and solutions.

Expensive electric = build solar power plants for cities

Expensive food imports = grow food in the fertile western Somaliland & mountains

Lack of jobs = create commercial fisheries, abattoirs, milk processing plants, light manufacturing

7/ Each of these industries has the potential to be a $250m, £500m, $1bn industry earning millions in hard currency through exports. Each can sustain thousands of jobs.

We just need to pursue them.