The President of the Federal Republic of Somalia, H.E. Hassan Sheikh Mohamud, emphasizing the importance of strengthening national production, has officially inaugurated Banadir Steel Factory, a new industrial plant that produces construction steel using recycled scrap metal.
During his tour of the different sections of the factory, the President stated that the Federal Government of Somalia is committed to encouraging and supporting Somali citizens who invest in their own country so they can play a significant role in economic recovery, business development, and youth employment. He also stressed the importance of ensuring workplace safety and maintaining high production standards.
“I congratulate the young Somali entrepreneurs who have taken the initiative to invest in their homeland, creating job opportunities for more than 400 people and their families. Large industries and similar major projects are among those that will soon drive our nation’s growth. We want members of the diaspora to invest in the country so that we can regain what was lost over the past 30 years. I hope this factory will expand to produce all types of construction materials,” said President Hassan Sheikh.
President Hassan Sheikh also urged Somali businesspeople to focus on investing in innovative projects that respond to the country’s needs and benefit future generations. He emphasized that such initiatives are essential for achieving economic self-reliance, comprehensive local production, and the development of industries capable of reducing dependency on imported goods.