Trade and Private Sector Development
UNDP Somalia- C.2 Project Annual Report
There is strong, renewed political appetite in Somalia to mainstream trade into Somalia’s national development agenda. The FGS firmly believes that its engagement in the Enhanced Integrated Framework (EIF) will contribute building capacity of the Government as well as the private sector, accelerate economic recovery, expand employment opportunities and support peace building and reconciliation efforts in Somalia. In September 2014, Somalia got accepted as the 50th beneficiary country of the EIF. The PSG4 working group decided to create four sub-working groups on: Natural resources; Productive sectors; Infrastructure; and Youth employment, which are all supported by UNDP/PREP. One of the flagship projects of PSG4 is the "Joint Programme on Youth employment" which will cover short-term job creation, medium and longer-term skills development, and value chain analyses.
The
government of Puntland expressed its strong interest and support of the PSG4 process
of the New Deal Compact. The government of Puntland participated at a 3-day retreat
in Nairobi, and invited the full PSG4 working group to hold the next meeting in
Garowe. This was initially planned for December 2014, but has been postponed to
early 2015.
In
Somaliland, the Somaliland Development Fund covers private sector development as
one of the key priority areas. Similarly, under the Somaliland arrangements in
the New Deal, PSG4 on economic foundations include private sector development
as the key driver for economic development. Concerning EIF activities, it was
made clear by the EIF Secretariat that the key counterpart has to be the
Federal Ministry of Commerce and Trade. Once the EIF process is officially
launched in Somalia in early 2015, it will be necessary to hold further talks
with the relevant Somaliland counterparts about best ways to incorporate Somaliland
into the EIF process.
The government of Puntland expressed its strong interest and support of the PSG4 process of the New Deal Compact. The government of Puntland participated at a 3-day retreat in Nairobi, and invited the full PSG4 working group to hold the next meeting in Garowe. This was initially planned for December 2014, but has been postponed to early 2015.
In Somaliland, the Somaliland Development Fund covers private sector development as one of the key priority areas. Similarly, under the Somaliland arrangements in the New Deal, PSG4 on economic foundations include private sector development as the key driver for economic development. Concerning EIF activities, it was made clear by the EIF Secretariat that the key counterpart has to be the Federal Ministry of Commerce and Trade. Once the EIF process is officially launched in Somalia in early 2015, it will be necessary to hold further talks with the relevant Somaliland counterparts about best ways to incorporate Somaliland into the EIF process.
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