FDI featured Infrastructure maritime

Qatar will invest $174 million into a new modern Port at Hobyo

The State of Qatar, on Monday the 19th of August, sent a large delegation to the Federal Republic of Somalia. The visit to the Somali capital of Mogadishu by the Qatari delegation was led by their Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani who was hosted by the Somali Prime Minister Hassan Ali Khaire.

The Qataris and Somalis discussed ways to strengthen their ties in the form of infrastructure projects, trade and investment. In February 2019, Qatar launched a $200 million Highway project in Somalia connecting the capital of Mogadishu with the agricultural towns of Jowhar and Afgoye.

The $174 million investment at Hobyo is part of a large FDI push by the Qatari State into Somalia that will also see similar size investments into other ports including Barawa.

Somalia currently has three Panamax ports at Kismayo, Mogadishu and Berbera, and maintains its maritime edge with the most deep water ports on the African continent.

The new port projects will allow Somalia to update its Blue Economy infrastructure and fully benefit from its strategic location by tapping into the 50% of world trade that passes through its waterways.

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