The modest Manufacturing based on the processing of agricultural products
Manufacturing sector is one of the crucial sectors, the Federal Government of Somalia is promoting in order to realize significant export volumes, create more jobs and make the concept of ‘Made in Somalia’ a reality. Locally manufactured goods should be competitive and offer additional value in order to increase local consumption.
Somalia is currently an import dependent as per the below illustration. Most of the imports are food related items which is local produced but lack processing and manufacturing elements. Substantial investments are needed in order to reduce this import/export imbalance while potentially increasing export once local demand is met. Manufacturing will eventually transition Somalia from an agriculture-based economy to a more resilient and stable industry-based economy with potential diversification to the service-based economy. Currently, a number of global brands did set shop in Somalia including: Coke Cola, Toyota, Hyundai automobiles, Albayrak, Favori, AR International among others.
Investment Opportunities IN MANUFACTURING:
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