Mogadishu, Somalia. In a move signaling closer economic ties, Egypt’s Minister of Transport, Kamel El-Wazir, is expected to arrive in Somalia soon, leading a delegation of business leaders. Their primary focus: exploring potential investment opportunities in the country’s infrastructure sector, particularly port development projects.
Somali Minister of Planning, Investment, and Economic Development, Mahmoud Abdirahman Farah Benebene, welcomed the visit, highlighting discussions on implementing major infrastructure initiatives. He emphasized the significance of this visit for Somalia’s economic growth, especially considering the growing interest from both regional and international investors.
“This delegation’s visit is a crucial step towards unlocking investment opportunities in Somalia,” stated Minister Benebene, underlining the importance of collaboration between the two nations.
This high-level visit comes amidst a strengthening economic relationship between Egypt and Somalia. According to Egypt’s Central Agency for Public Mobilization and Statistics (CAPMAS), Egyptian exports to Somalia surged by 27.7% in the first 11 months of 2023, reaching $54 million. This marks a significant increase compared to $42.3 million during the same period in 2022.
