HARGEISA, Somaliland —Ministry of Investment and Industrial Development of the Republic of Somaliland has signed a Memorandum of Understanding (MOU) with UK-based company Nubian Shield Resources aimed at strengthening cooperation in mineral exploration, resource development and investment across the country.
The agreement was signed by Somaliland’s Minister of Investment and Industrial Development, Saed Mohamed Burale, and the Somaliland representative and chairman of Nubian Shield Resources, Abdiqadir Ali.
According to the ministry, the MOU is designed to attract international investment, advance the exploration and assessment of Somaliland’s mineral resources, facilitate the transfer of modern technology and expertise, strengthen investment infrastructure and create employment opportunities that support sustainable economic growth.
Officials said the partnership forms part of the government’s broader strategy to promote responsible and efficient utilization of natural resources while encouraging high-quality investment aligned with national development policies and international standards.
The Ministry of Investment and Industrial Development expressed confidence that the agreement will enhance investor confidence, unlock new investment opportunities and accelerate economic development in Somaliland.
The deal comes as Somaliland seeks to expand foreign direct investment in key sectors, including mining, energy and industrial development, as part of efforts to diversify the economy and increase long-term growth prospects.
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Prepared by:
Horn post staff
HARGEISA, Somaliland
