Somalia Unveils New Mogadishu Development Initiative
On 19 December 2024 in the Somalian capital Mogadishu, President Hassan Sheikh Mohamud officially unveiled the New Mogadishu Development Initiative, as a central piece of its ambitious National Development Plan (#NDP) to transform Somalia and make the country shine in the Horn of Africa.
The Initiative includes a new airport, seaport and associated Special Economic Zone (#SEZ) driven by a growth agenda and investment-friendly business climate. President Mohamud also highlighted the potential for the Initiative to create massive job opportunities for the youth.
“The launch of the New Mogadishu project marks a significant milestone for Somalia as it seeks to revitalize its capital and strengthen investor confidence, paving the way for a brighter economic future. The creation of this project is not just about infrastructure; it’s about creating opportunities for our youth and uplifting our communities.”
Somali President Hassan Mohamud
On his part, Somali Minister of Transport and Aviation dwelt on the airport project. Whereas the current airport is nearing capacity, the new one will be bigger and act as a showcase as investors and visitors arrive in Mogadishu. An SEZ near the airport is expected to be one of the focal point for investors.
Th airport project is valued at nearly USD 650 million and forms the piece de resistance of the New Mogadishu Development Initiative. The Chairman of the Somali Chamber of Commerce and Industry welcomed the Initiative upon learning that the local business community will get priority on investment in the Zone.
On the previous day, President Mohamud attended the groundbreaking ceremony of the Gateway Complex Project which comprises of an International Convention Center with a capacity for 5,000 delegates along with a 5-star hotel. The Gateway Complex will also have a 300-bed hospital, an international school and a shopping centre. It will also have residential unit and recreational facilities for both locals and expats.
Whilst Somali used to be infamous for pirates, now Somali wishes to present a new face to the world. With the New Mogadishu Development Initiative, Somali plans to transform its capital and put the country firmly on the path of modernization.