Mogadishu (HOL) — Somali President Hassan Sheikh Mohamud officially opened the Somalia–U.S. Presidential Trade Summit in Mogadishu on Saturday, aimed at strengthening economic cooperation and attracting foreign investment across key sectors in Somalia.

Speaking at the event, President Mohamud described the summit as an important milestone marking Somalia’s transition from aid dependency to partnership and innovation, positioning the country as “a new frontier for American and global investment, boosting local creativity and private sector growth.”

“We invite investors to come to Somalia, explore opportunities, and invest in a country rich in minerals and other vital resources,” President Mohamud added.

The president reaffirmed his government’s commitment to enhancing trade relations with friendly nations, particularly the United States, to drive sustainable development and create new job opportunities for Somali youth.

Minister of State for Foreign Affairs and International Cooperation, Ali Mohamed Omar, said Somalia is now ready to attract global investments, highlighting promising opportunities in energy, agriculture, infrastructure, and fisheries.

Somalia’s Ambassador to the United States, Dahir Hassan Abdi, noted that fifteen American-owned companies are participating in the summit, reflecting growing international confidence in Somalia’s business environment.

Minister of Energy and Water Resources, Abdirahman Batan Warsame, underscored Somalia’s significant potential in the energy sector — particularly in electricity, renewable energy, and water — and encouraged U.S. investors to explore these opportunities and contribute to the country’s development.

The summit comes as Somalia redoubles its efforts to build stronger economic partnerships with the United States, promoting shared growth, innovation, and long-term prosperity.