Shekosh Reports

Ogaden: Somali State Sees Surge in Investment

Kemal Hashi [ADDIS FORTUNE] – Investment into the Somali Regional State is increaasing as the officials make land that was held by clans available for investment as well as improve the poor infrastructure and uncertain security in the area, according to Abdulaziz Ahmed, acting head of the License and Registration Department at the Somali Regional Investment Bureau.

Abdulaziz said that clans previously controlled land where there was no agriculture; now the government has started controlling these lands. If an area where there is agriculture is needed for some industrial investment, compensation was made to the previous holders of the land.

“Our office has paid 1.5 million Br in compensation for 500ht of agricultural land 12km east of Jijjiga Town,” he said.

Most of the agricultural land is concentrated along the rivers Wabishebele, Genale, Weyb and Dawa.

“Within the first quarter of this year 12 investors were licensed to invest in agriculture, education, health services and hotels. This is far better than last year when we licensed only 31 Investors throughout the entire year. Last year was even better than the year before as we had only around 10 investors for the whole year,” Abdulaziz said.

Owners of Amal Construction Company, Zuhura 571 Company, Road and Bridge Construction Company and Degan Construction Company are among the new companies that have invested in the region. The investments are concentrated in Jijjiga, Gode and Liban zones.

Abdulaziz said that among the new investments were two luxury hotels in Jijiga, which will be built after the Jijiga Master Plan has been redesigned.

November 12, 2009 - Posted by shekosh | World News | gode, investment, jijiga, ogaden, somali regional state, wabishabele