Somaliland: High-Level Meeting Held to Discuss Economic Impact of the Red Sea Crisis

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The President of the Republic of Somaliland, His Excellency Muse Bihi Abdi, convened a large-scale meeting last night to address the growing business activities at the Red Sea port. Held at the presidential palace, the meeting saw the participation of several ministers, including those from the ministries of internal affairs, financial development, animal care and rural development, employment, social and family affairs, as well as the deputy minister of commerce, the chairman of the chamber of commerce, and other members. The primary focus of the meeting was to discuss the economic impact of the increased business activities in the Red Sea region and devise effective plans to manage its effects on the community.

Prominent businessmen, such as Mr. Yusuf Duale Barre, Mr. Ali Omar Guled, Mr. Mohamed Abdullahi Mire, Mr. Mohamed Ali Hassan, Mr. Ismail Abdi Hassan, Mohamed Shugri Jama, and Abdiwahab Abdirahman Cileye, were also present at the forum. Each of them put forward recommendations and viewpoints to address the emerging business and economic conditions.

Dr. Sacad Ali Shire, Minister of Finance Development, emphasized the significance of collaboration between businessmen and the government to find solutions that mitigate the effects of the growing business activities in the Red Sea region.

Expressing gratitude for the businessmen’s respectful response to the national meeting, President Muse Bihi welcomed their suggestions and recommendations, emphasizing the importance of evidence-based cooperation between businessmen and the government.

During the meeting, President Muse Bihi received a proposal to establish a joint committee comprising government officials and businessmen to find a lasting solution to the trade and goods-related issues in the region. In response, he stated, “As businessmen, you should take the lead in selecting the committee. Given the numerous developments in the economy, it is crucial that we come together and address these challenges.”

Lastly, the President urged businessmen to play a prominent role in ensuring the safety and stability of society, thereby fostering increased business activities and sustainable development.