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National Economic Council of Somalia Inaugurates the “Growth and Economic Transformation Strategy (GETS) in Somalia”

National Economic Council of Somalia Inaugurates the “Growth and Economic Transformation Strategy (GETS) in Somalia”

The National Economic Council of Somalia (NEC), a Principal Advisory Council to the Federal Government of Somalia mandated to strengthen the formulation and execution of national economic and social policies, inaugurated the Growth and Economic Transformation Strategy (GETS) in Somalia in collaboration with the Ministry of Planning, Investment and Economic Development and other key economic and social policy ministries and government agencies.

Dr. Ali Issa, the Executive Director of NEC, delivered a welcoming statement at the opening session of the event that extended a warm welcome to the Government ministers, members of Parliament, senior officials from the federal and member states agencies, as well as representatives from the private sector, academic institutions, civil society, and development partners. He extensively elaborated on GETS studies which comprised the three key Pillars of: sustainable and inclusive development; food security, climate change adaptation and building resilience, and development of the blue economy in Somalia.  He noted that in the coming months the NEC economic advisors and associated researchers will prepare objective studies with the direction of an Inter-Ministerial Steering Committee that will provide necessary support and guidance to the preparation of the GETS vision, while ensuring continued involvement, evaluation, and interpretation of the findings from a public policy perspective.

The Director indicated that the Growth and Economic Transformation Strategy is a broad-based, multi-sectoral vision with the goal of creating a prosperous, secure, democratic and inclusive country with a high quality of life. The Strategy also builds on the current National Development Plan and extends it into a 30-years span till 2050, aimed at transforming Somalia into a lower-middle-income status that provides wellbeing to all citizens on a sustainable basis. In addition, he concluded on the urgent need to shift the national focus from the essential political transition to economic and social policies management and recovery.

Similarly, Dr. Abdirahman Abdullahi (Badiyow), an Academic and prominent Author, who delivered a keynote speech and Mr. Andy Kotikula, Senior Economist at World Bank, both spoke at the opening session and stressed on the need for economic transformation in Somalia and applauded the efforts of NEC with the expertise of its National Economic Advisors (NEAs) in significantly contributing to Somalia’s economic recovery through fact-based and objective policies and programs. Dr. Badiyow also stressed the urgent requirement to ensure peace and security, as well as reconciliation and supportive culture of tolerance in the society.

H.E Khalif Abdi Omar, Minister of Commerce and Industry, who officially opened the inaugural event of  the Growth and Economic Transformation Strategy stated “ that he hopes the Growth and Economic Transformation Strategy development reinforces the capacity of the state at federal and local level to support the development of Somali productive sectors by improving Somalia productive sector’s policy regulators’ capacities to create a business environment that will lead to sustainable and inclusive economic growth and decent job opportunities.”

The event then entailed panel presentations on the three thematic areas of GETS vision precisely Sustainable Economic DevelopmentClimate Change Adaptation and Building Resilience, as well as Sustainable Blue Economy in Somalia.

The discussions attracted proactive feedbacks from the audience who have raised questions to the presenters and shared their commentaries, endorsements and recommendations with NEC.

The hybrid event was attended by more than a hundred high-level personalities and representatives that included H.E. Khalif Abdi Omar, Minister of Commerce and Industry, H.E Abdi Sheikh Ahmed, Minister of Communication and Technology, H.E Abdirashid Mohamed Ahmed, Minister of Petroleum and Mineral Resources, H.E. Abdullahi Sheikh, Deputy Minister of Finance, H.E. Mahad Mohamed Hassan, Deputy Minister of Ports and Marine Transport, Mr. Abdulkadir Mohamed Aden, Director General of the Ministry of Planning, Investment and Economic Development, who all took part in the discussions, in addition to Directors and officials from various government institutions, representatives from the private sector, civil society, academic institutions and development partners.

At the concluding session, the Executive Director of NEC expressed his gratitude to all for their thoughtful contributions in terms of discussions, technical input, and recommendations.  He further indicated that the preparation of GETS will be participatory and centered on effective dialogue and consensus-building among all Somali public and private stakeholders including the women and youth; the diaspora and civil society so as to provide a sense of national commitment based on thorough analysis and diagnosis of the country’s past and present.

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