(17 Dec 2024) MOGADISHU (Halqabsi News) — President Hassan Sheikh Mohamud has laid the foundation stone for the Gateway Complex, a major modern development project in Mogadishu funded by local entrepreneurs. The initiative is expected to boost the economy, expand trade, and attract international investors to Somalia.
In his address at the ceremony, President Mohamud praised the vision and dedication of Somali business leaders for spearheading projects that will transform the capital’s image and demonstrate Somalia’s potential to the world.
“Somalia has the brightest future in the Horn of Africa and will lead the region’s progress. Investment is about long-term growth, not quick results. Somalia is on the path to recovery and development, overcoming the challenges of its difficult past,” the President stated.
He emphasised his government’s commitment to creating a conducive environment for investment and highlighted the importance of sustainable economic self-sufficiency. He urged Somali entrepreneurs, particularly those in the diaspora, to invest in their homeland to ensure Somalia remains competitive globally.
“Somalia is now a destination where global investors are competing to enter. The government has completed key legal frameworks to protect and guarantee investments, and we encourage our business community to seize the opportunities available,” he added.
President Mohamud also addressed the importance of preserving Somalia’s values, urging developers to respect cultural and religious principles while contributing to progress.
“Statehood is built on safeguarding national identity, preserving religion, and delivering essential services such as education, healthcare, and infrastructure to the people,” he said.
The Gateway Complex by Premier Bank will feature a modern hotel, shopping mall, hospital, mosque, international conference centre, and other high-standard facilities. President Mohamud urged the developers to complete the project swiftly, emphasising its significance for Somalia’s economic growth and international image. The launch of the project marks a milestone in the country’s efforts to attract large-scale investments and revitalise its capital city as a hub for regional and global trade.
Halqabsi News
