By Asha Elmi - Reporter
Mogadishu, 26 August 20256 - Somalia on Tuesday urged Chinese companies to invest in manufacturing and processing as it seeks to narrow a huge trade imbalance.
Deputy Prime Minister Salah Ahmed Jama opened a Somalia-China Business Networking Forum in Mogadishu, inviting Chinese firms to invest in infrastructure, manufacturing, fisheries, agriculture and energy.
"We welcome Chinese companies that are ready to come, understand our market, work with Somali businesses and grow with us," Jama said.
Commerce Minister Gamal Mohamed Hassan said Somalia wanted investment that turns natural resources into "production, manufacturing, exports and jobs."
"Natural resources alone do not create prosperity," Hassan said, calling for factories to process local goods.
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Chinese exports to Somalia reached about $968 million in 2024, while Somali exports to China stood at about $3.1 million, according to figures presented at the forum.
Foreign direct investment in Somalia rose to $834 million in 2025 from $534 million in 2020.
Somalia highlighted sectors including fisheries, with a 3,889 km coastline and potential of up to 800,000 tonnes annually, as well as agriculture, energy and logistics. Its 2025-2029 National Transformation Plan targets $14.5 billion in investment and 145,000 jobs.
During the forum, the Somali Chamber of Commerce and Industry and the China-Africa Chamber of Commerce signed an MOU to strengthen trade links.
The government said debt relief had cut public debt from 65% of GDP to below 10%, creating space for investment.