In brief
- Somaliland Chronicle reported on 1 August 2020 that key projects in Somaliland needed an optimized national FDI policy.
- The report cited the 2016 DP World Berbera concession and Taiwan cooperation, but provided no named projects or values.
- No documents establish any development after that date.
On 1 August 2020, Somaliland Chronicle reported that key projects, institutions and associations in Somaliland were demanding optimization of the national policy for Foreign Direct Investments, or FDI, in light of the country's cooperation with Taiwan. The report, titled "Key Projects Starving for Optimized FDI Policy in Somaliland," described the DP World Berbera port concession, won in 2016 for 30 years, as Somaliland's first major Foreign Direct Investment, according to Somaliland Chronicle.
The same report called the cooperation between Somaliland and Taiwan "the second breakthrough for a potential FDI in this young nascent nation," Somaliland Chronicle reported. The article argued that key projects, institutions and associations critical for economic growth required an optimized FDI policy, but it did not name any specific project, institution or association.
Before the DP World concession, the report said, only small aid from UN agencies such as UN Development Programs and developmental aid from European partner countries channeled through the Somaliland Development Fund had reached the country. It described Somaliland as having an almost 5 million population. It urged Somaliland to model its foreign investment policy after the Philippines, Malaysia and Vietnam, which it called emerging economic powers that continued to attract significant foreign investment due to refining their policies, according to Somaliland Chronicle.
The report also claimed that Somaliland’s de facto status could not be considered a barrier to any FDI procurement if contributing conditions and environment were adopted. However, no named infrastructure project, budget, contract, tender or construction date is provided, and no follow-up documents establish any development after the 2020 publication.
Frequently asked questions
What did the Somaliland Chronicle report on 1 August 2020 about FDI in Somaliland?
It reported that key projects and institutions needed an optimized FDI policy, describing the DP World Berbera concession and Taiwan cooperation as breakthroughs.
What did the report say about the DP World Berbera concession and Taiwan cooperation?
It called the 2016 DP World concession Somaliland's first major FDI and described Taiwan cooperation as a second breakthrough for potential FDI.
What evidence does the report provide for its claims about FDI and policy gaps?
The report provided qualitative claims but no named projects, budgets, contracts or values.
What has happened to Somaliland FDI policy or key projects since August 2020?
No follow-up documents establish any developments after that date.